The accounting department of SIL Ltd, has furnished the following information to its management for the first quarter of the current year: You are required to: 1. Calculate cost, sales and profit...

The accounting department of SIL Ltd, has furnished the following information to its management for the first quarter of the current year:

You are required to:

1. Calculate cost, sales and profit variances.

2. Prepare a reconciliation statement of profit variances with as many details as possible.