QUESTION 2 (10 Marks) 2.1 REQUIRED Use the information provided below to prepare the performance report for Lonmin Limited. INFORMATION Lonmin Ltd manufactures a single product. It originally planned to produce and sell 18 000 units during the year but the actual activity level was 22 000 units. The budgeted and actual income and cost for the year are as follows: Original Budget Actual results Volume 18 000 units 22 000 units R R Sales 2 520 000 3 300 000 Cost of sales (1 670 000 (2 132 000) 720 000 924 000 Direct Materials 450 000 594 000 Direct labour 180 000 264 000 Variable overheads 320 000 350 000 Fixed overheads 850 000 1 168 000 Gross Profit END OF PAPER