Requirement 1. Prepare a performance report that uses 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 "O" in the appropriate field. If the variance is zero, do not select a label.) Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances Budget Requirements Units sold Revenues Variable costs 1. Prepare a performance report that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1. Contribution margin Fixed costs Print Done Operating income Requirement 1. Prepare a performance report that uses 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 "O" in the appropriate field. If the variance is zero, do not select a label.) Actual Flexible Sales-Volume Static Flexible-Budget Variances Results Budget Variances Budget Requirements - Units sold Revenues Variable costs 1. Prepare a performance report that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1. Contribution margin Fixed costs Print Done Operating income Requirement 2. Comment on the results in requirement 1. There is an) total flexible-budget The total static-budget variance in operating income is $ variance and a(n) manufactured and sold were sales-volume variance. The sales-volume variance arises solely because actual units than the budgeted 3,200 units. The flexible-budget variance in operating income is due primarily to the in unit variable costs. Requirement 2. Comment on the results in requirement 1. There is a(n) total flexible-budget use actual units The total static-budget variance in operating income is $ variance and a(n) sales-volume variance. The sales manufactured and sold were than the budgeted 3,200 units. TH primarily to the in unit variable costs. F. ing income is due U. Requirement 2. Comment on the results in requirement 1. V The total static-budget variance in operating income is $ There is a(n) total flexible-budget variance and a(n) sales-volume variance. The sales-volume variance ari manufactured and sold were than the budgeted 3,200 units. The flexible-budget var favorable unfavorable primarily to the in unit variable costs. Requirement 2. Comment on the results in requirement 1. The total static-budget variance in operating income is $ variance and a(n) manufactured and s primarily to the favorable unfavorable There is a(n) total flexible-budget sales-volume variance. The sales-volume variance arises solely because actual units than the budgeted 3,200 units. The flexible-budget variance in operating income is due in unit variable costs. Requirement 2. Comment on the results in requirement 1. The total static-budget variance in operating income is $ There is an) total flexible-budget variance and a(n) sales-volume variance. The sales-volume variance arises solely because actual units manufactured and sold were than the budgeted 3,200 units. The flexible-budget variance in operating income is due primarily to the less more Requirement 2. Comment on the results in requirement 1. The total static-budget variance in operating income is $ variance and a(n) manufactured and sold were There a(n) total flexible-budget sales-volume variance. The sales-volume variance arises solely because actual units than the budgeted 3,200 units. The flexible-budget variance in operating income is due in unit variable costs. primarily to the decrease increase