PLEASE ANSWER ALL THE REQUIREMENTS WITH EXPLANATION FOR THUMBS UP! THANK YOU!

Treanor Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020 , it budgeted to manufacture and sell 3,400 tires at a variable cost of $80 per tire and total fixed costs of $52,500. The budgeted selling price was $114 per tire. Actual results in August 2020 were 3,200 tires manufactured and sold at a selling price of $116 per tire. The actual total variable costs were $281,600, and the actual total fixed costs were $48,500. Read the requirements. Requirement 1. Prepare a performance report with a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Requirements 1. Prepare a performance report with a flexible budget and a static budget. 2. Comment on the results in requirement 1 . Treanor Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020 , it budgeted to manufacture and sell 3,400 tires at a variable cost of $80 per tire and total fixed costs of $52,500. The budgeted selling price was $114 per tire. Actual results in August 2020 were 3,200 tires manufactured and sold at a selling price of $116 per tire. The actual total variable costs were $281,600, and the actual total fixed costs were $48,500. Read the requirements. Requirement 1. Prepare a performance report with a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Requirements 1. Prepare a performance report with a flexible budget and a static budget. 2. Comment on the results in requirement 1