Oswald Press produces and sells textbooks for schools and colleges. The following budgeted information is available for the year ending 31 December 20X6:

                                           budget      actual

sales(units)                       120,000     100,000

                                            $000         $000

sales revenue                    1200           995

variable printing costs         360            280

variable production overheads 60         56

fixed production cost           300            290

fixed administration cost      360            364

profit                                  120                5

1The flexed buget shows:

A a profit of $10,000

B a loss of $10,000

C a profit of $100,000

D a loss of $100,000

2 the total expenditure and volume variances are:

            Expenditure variance          Volume variance

A.         $15,000  F                           $130,000A

B.          $95,000A                            $115,000F

C,         $115,000A                           $95,000F

D          $130,000A                           $15,000F