Budgeted amounts in foreign currency are as follows: Sales = FC 100, Cost = FC 90, Profit = FC 10. Assume that the actual results are exactly as budgeted and that exchange rates for the budget period are as follows: Actual at time of budget preparation: $1 = FC 1 Projected ending: $0.9 = FC 1 Actual at end of period: $0.7 = FC 1 If the actual exchange rate at the time of budget preparation is used to translate budget, and the actual exchange rate at the end of period is used to translate actual. What is the variance?

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