17 Skye Ltd has the following original budget and actual performance for product GLEN for the year ending 30 April Budget Actual Volume sold 100000 144000 000 000 Sales revenue 2000 3600 Less costs: Direct materials 350 530 Direct labour 400 480 Overheads 980 1228 Operating profit 270 1362 Both direct materials and direct labour are variable costs, but the overheads are fixed. Prepare the flexed budget and the resulting variances against this budget for the year. You must indicate whether the variance is Favourable (F) or Adverse (A). Fill in your answer here (10 Marks)