Time left 2:18:1 a) Prepare a static-budget-based variance analysis of the September performance. Including Favourable variances (F) /Unfavourable variances (U). use the following table. (4.5 Marks) Actual result static variance Static Budget Number of units Sales revenue Less: Variable Cost Contribution Margin Less: Fixed Cost Profit b) Prepare a flexible-budget-based variance analysis of the September performance. Including Favourable variances (F) /Unfavourable variances (U use the following table. (5.5 Marks) Flexible Actual result Flexible budget ; Sales volume variance Static Budget variance Number of units Sales revenue Less: VC CM Less: FC ProfitMax Ltd produces personalised bags. Each bag is designed for an individual customer and is ordered over the internet. The company's operating budget for September included these data: Number of shirts 25,000 Selling price per shirt $50 Variable cost per shirt $23 Fixed costs for the month $225,000 Actual results for September were; Number of shirts produced and sold 30,000 Average selling price per shirt $48 Variable cost per shirt $25 Fixed costs for the month $212,500 Required: a) Prepare a static-budge_t-based variance analysis of the September performance. Including Favourable variances (F) [Unfavourable variances (U). use the following table. (4.5 Marks) b) Prepare a flexible-budge_t-based variance analysis of the September performance. Including Favourable variances (F) [Unfavourable variances (U use the following table. (5.5 Marks)