5) The Tarp Company has budgeted monthly costs for the production of 50,000 metres of a specialty fabric that is used when manufacturing their Tent product that is as follows: Fixed manufacturing costs $62,000 per month I Variable manufacturing costs $20.00 per metre ABC Clothing Company actually produced 60,000 metres of fabric for $1.25 Million during July and incurred fixed costs of $62,500. Calculate the company's static budget report for July showing the variances. Why would the company use the static budget?