4. (15 pts.) The president of a company was given the following data: Flexible Budget for Static Budget Actual Sales Activity Actual Units 18.000 Sales $360,000 Variable costs 234,000 Contribution margin$126,000 Fixed costs 76.000 Operating income $50,000 16,000 $320,000 192,000 $128,000 80,000 $48,000 18.000 $360,000 216,000 $144,000 80,000 $64.000 The president was happy because the static budget variance was 2,000F. Was he correct, and if not, why? high the following standards have