1. Prepare a columnar flexible budget for Salvatore Transportation at revenue levels of $13,500,000. $14,000,000, and $14.500.000. Assume that the prices and mix of products sold are equal to the budgeted prices and mix. 2. Write out the flexible budget formula for costs as a function of revenue. 3. Prepare a condensed table showing the static budget variance, the sales activity variance, and the flexible-budget variance. Data Table Actual Variance Budget 14,000,000 $ Net revenue $ 13,800,000 $ 200.000 u Variable Costs Fuel 1.000 F Repairs and maintenance Supplies and miscellaneous 559,000 $ 143.000 3.000 U 560,000 $ 140,000 1.400.000 8,400,000 10,500,000 $ Variable payroll 1,390,000 8,280,000 10,372,000 $ 10.000 F 120.000 Total variable costs" 128.000 F Fored Costa 200.000 $ Supervision Rent Deprecation 21.000 U 170.000 430.000 221.000 $ 170.000 430.000 heck An 11,380,000 10.000 F Variable payroll 8,400.000 8,280,000 120,000 F 128.000 F. Total variable costs $ 10,500,000 $ 10.372,000 $ Fixed Costs Supervision 200,000 $ 221,000 $ 21.000 U Rent 170,000 Depreciation 170.000 430,000 130.000 Other foxed costs 430.000 124,000 6.000 F Total forced costs 930.000 945,000 nel Total forced and variable costs $ 11.430.000 $ 11,317,000 $ 15.000 u 113.000 F 87.000 u $ 2.570.000 $ 2,483,000 $ Operating income U = Unfavorable. F= Favorable Requirement 1. Prepare a columnar focible budget for Salvatore Transportation at revenue levels of $13,500,000. 314.000.000, and 314,600,000. Assume that the prices and me of products sold are equal to the budgeted prices and me Begin with the flexible budget at revenues of $13,500,000, next, complete the flexible budget at revenues of $14,000,000 and then, prepare the feable budget at revenues of $14,500,000. (Enter all costs as positive numbers.) Salvatore Transportation Company Flexible Budgets for Various Levels of Sales Net revenue 13,500,000 Variable Coats $ Fuel Repairs and maintenance Supplies and miscellaneous Variable payroll Total war ES Enter any number in the edit fields and then click Check Answer F Fuel Repairs and maintenance Supplies and miscellaneous Variable payroll Total variable costs Fixed Costs Supervision Rent Depreciation Other fixed costs Total fuced costs Total foxed and variable costs Enter any number in the elit sitt