Point, Inc. produces men’s shirts. The following budgeted and actual amounts are for 2022: Cost Budget at 2,500 units Actual Amounts at 2,800 units Direct materials $65,000 $75,000 Direct labor 70,000 78,000 Fixed overhead 35,000 34,500 Instructions Prepare a performance report for Point, Inc. for the year explaining budget, actual and variances. State whether each variance is favourable or unfavourable.
