Compute Clear plc has produced the following budget and actual information. REQUIRED: (b) Prepare a flexible budget for Compute Clear plc to present actual versus flexed budget comparisons and also

total variances. (a)You are required to prepare a traditional budget versus actual report using the above figures. (c)Using Material X as an example, demonstrate how this cost can be broken down into price and efficiency variances. Briefly comment on the significance of the results of these variances to the company.