Variance

Hi Sir,

Regarding this question

Martin mags produces and sells industry magazines. The following budgeted information is available for the year ending 3 December 2006.

Budget Flexed Actual
Sales units. 120,000. 100,000. 100,000
$000. $000. $000
Sales revenue. 1,200. 1,000. 995
Variable printing. 360. 300. 280
Costs
Variable prod. 60. 50. 56
Costs.
Fixed prod cost. 300. 300. 290
Fixed admin cost. 360. 360. 364

Profit/loss. 120. (10). 5

What are the total expenditure variance

The answer given is 15k usd favourable.

I saw your solution is below:

The actual profit is 5,000 and the flexed profit is (10,000). The difference of 15,000 (favourable) is the expenditure variance.

But my understanding is
Flexed budget expenditure ( 300k + 50k + 300k + 360k ) = 1010k usd
Actual budget expenditure (280k +56k + 290 k +364k )= 990 k usd

the variance is 1010k -990k =20k usd.

and may you explain your solution? i might miss some important points in your lectures.