Using the Data Below, Reconcile the Two Statements and Comment

Essay

Using the data below, reconcile the two statements and comment on the results for each quarter and the year as a whole, reconciling the profits in each quarter.
The budgeted costs of making 150,000 units are as follows:
Overhead Absorption is based on 150,000 units. Selling Price is £11 per unit
$\begin{array}{ll} &£\\ \text {Direct Material} & 390,000 \\ \text {Direct Labour} & 450,000 \\ \text {Variable Overhead }& 60,000\\ \text {Fixed Production Overhead}&150,000\\ \text {Variable Selling and Admin}& 150,000\\ \text {Fixed Selling and Admin}&100,000 \end{array}$