Provide explanations to your answers. Please circle your final answer to each question

Q.1) (27 points) The Chair Company manufactures two modular types of chairs: one for the residential market, and the other for the office market. Budgeted and actual operating data for the year 20XX are: Static Budget Residential Office Total Number of chairs sold 260,000 140,000 400,000 Contribution margin $26,000,000 $11,200,000 $37,200,000 Number of chairs sold Contribution margin Actual Results Residential Office Total 248,400 165,600 414,000 $22,356,000 $13,248,000 $35,604,000 a. Compute the total static-budget variance in terms of contribution margin. State whether the variance is Favorable (F) or Unfavorable (U). b. Compute the total flexible-budget variance in terms of contribution margin. Is it F or U? c. Compute the total sales-volume variance in terms of contribution margin. Is it F or U? d. Compute the sales-mix variance for residential type of chair in terms of contribution margin. Is it F or U? e. Compute the sales-mix variance for office type of chair in terms of contribution margin. Is it F or U? f. Compute the total sales-mix variance in terms of contribution margin. Is it F or U? g. Compute the sales-quantity variance for residential type of chair in terms of contribution margin. Is it F or U? h. Compute the sales-quantity variance for office type of chair in terms of contribution margin. Is it F or U? i. Compute the total sales-quantity variance in terms of contribution margin. Is it F or U