Please answer the following question.

Please provide any formula or explanation needed.

2) Please use the following data for problems #2-5: Onyx Company prepared a static budget at the beginning of the month. It's the end of the month and the company is analyzing actual results versus budget using flexible budget methodology. Data are as follows: Price: $80 Static budget: Sales volume: 1,000 units per unit Variable expense: S40 per unit $37,000 per month Fixed expenses: Price: $90 per Actual results: Sales volume: 990 units unit Variable expense: $45 per unit $34,000 per month Fixed expenses: Complete the grid below to calculate the variances and then answer the following questions. I FIC ble SAICS Budget Stati Flexible Volume Results Variance Budget Variance Budget Units volume 990 990 olul 1.000 Sales revenue 580,000 Actual 40,000 Variable expenses Contribution margin 40,000 Fixed Jexpenses 37,000 Operating income loss) $2,500 390.00 Price ur costs Ils d Il sood od IS 2) How much was the flexible budget variance for sales revenue? 3) How much was the flexible budget variance for Contribution Margin? 4) How much was the flexible budget variance for Operating Income/(Loss)? 5) How much was the Static budget variance for Operating Income/(Loss)