2. Recast the following static budget so it is a valid basis for comparison. Use contribution margin format. Actual 1800 $68,400 Variance $200 $11,600 Fav/Unfav U U F Budget Sales (units) 2,000 Sales (S) $80,000 Cost of Goods Sold Direct labor $10,000 Direct materials $6.000 Depreciation (straight line) $9,000 Plant manager's salary $5,000 Utilities ( $1,000 fixed) $5,000 Property taxes on factory $1,000 Machinery repairs $2.000 Gross Profit $42.000 Selling General & Administrative Administrative salaries $10,000 Advertising $3,000 Packaging (boxes to ship) $2,000 Sales commissions $4,000 Sales salaries $3,500 Shipping $8,000 Travel and entertainment $1.500 Operating Income $10,000 $8,820 $5,580 $9,000 $5,100 $4,420 $1,050 $1,620 $32,810 $1,180 $420 SO $100 $580 $50 $380 $9,190 F U F F F $9,800 $2,900 $1,890 $3,420 $3,500 $7,560 $1,600 $2,140 $200 $100 $110 $580 $0 $440 $100 $7,860 F U