extra credit need help bus5502 494631

Extra Credit Chapter 17 Budgetary Control Hunter-gatherer Ltd produces Widgets. The table below shows the budget and actual units sold together with standard costs and actual costs for materials and labour used in the manufacture of Widgets. Data for July 2008: Budget Actual Units of finished Widgets sold 5000 4500 Standard material required (kg per Widget) 1.5 1.7 Actual materials used (kg per Widget) Standard material costs per kg £12.50 £13.00 Actual material cost per kg Standard labour hours required (hours per Widget) 1.2 1.3 Actual labour hours used (hours per Widget) Standard labour costs per hour £14.00 £13.90 Actual labour cost per hour Assume that the quantity of materials purchased and the quantity used are identical. Produce a report that compares the original budget with actual costs for materials and labour in July. Produce a budget versus actual variance report using a flexible budget and calculate the variances on that basis. Calculate both usage and price variances for each of materials and labour. Explain why variance analysis using a flexible budget may be helpful for management control.?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????