John Co makes Product Y. Below is income statement for September 2014. Budgeted (1000 flexed units) Actual (1100 units) Sales Revenue $31000 $ 34,950 $(11,000) Direct labor (1000hrs) $(10,000) $(12,210) (1075 hrs) $(11630) (1170 Direct Material (1000kg) kg) Fixed $(3000) $ (3200). Overheads profit $7000 $ 7910 1. Prepare the flexed budget in table above 2. Calculate the Variances for the month using the flexed budget, and reconcile the budgeted and actual profit figures. 3. Identify the largest variance and identify which element(dept? manager?) should be accountable, and write questions that should be addressed to them