4. At the beginning of the year Myles Corporations assembled a budget calling for sales of 10,000 units. After the year is over, Myles Corporation closed the books and recorded sales of 9.000 units. Using the data below, assemble a static budget and flexible budget for Myles using the projected and actual sales units. Selling prices per unit are budgeted at $50 Variable material costs are budgeted at $5.00 per unit Variable labor costs are budgeted at $7.00 per unit Variable factory overhead costs are budgeted at $2.00 per unit Fixed selling expense is budgeted at $50,000 Fixed administrative costs are budgeted at $100.000 Taxes are budgeted at 25% of operating profit. 5. Continuing with the prior problem assume that the year has ended, and Myles Corporation experienced the following revenues and total costs: Total revenue $450,000 Total variable material costs $49,000 Total variable labor costs $60,000 Total factory overhead costs $17,000 Total fixed selling expense $52,000 Total fixed administrative costs $95,000 . Please assemble a performance report comparing the flexible budget cost numbers from problem 4 with the actual cost numbers given above for the year. Ignore taxes because this variable is beyond management's control and does not belong on the performance report. For each cost item calculate the difference and indicate if this is a favorable or unfavorable variance