Please answer requirements 1, 2, & 3. Thank you!

The Utica Company produces engine parts for car manufacturers. A new accountant intern at Utica has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. 2 (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (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. Round your answers to the nearest whole dollar.) Flexible Actual Results 108,000 Flexible-Budget Variance Budget Units sold Revenues (sales) $ Requirements Variable costs Contribution margin 702,000 480,000 222,000 140,500 81,500 Fixed costs Operating income 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here? Print Done Data Table Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Sales-Volume Static Actual Results 108,000 Variances Budget 90,000 $ Units sold Revenues (sales) Variable costs Contribution margin 702,000 480,000 369,000 202,500 222,000 140,500 Fixed costs 166,500 85,000 81,500 81,500 Operating income Print Done