Actual Results Variances Units Sales Variable Expenses Fixed Expenses $175,500 $27,000 Favorable 77,800 11,800 Unfavorable 93,800 300 Unfavorable Net Income (loss) $3,900 $14,900 Unfavorable i Determine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leave the amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300). Static budget Flexible budget Actual Results Variances Units Sales 5,500 148,500 6,500 175,500 Variable Expenses 77,800 x 78,000 X Chapter 7 Homework Spring 2023 Fixed Expen assignment take frame 93,800 X Net Income (Loss) -11,000 4,000 175,500 77,800 X 93,800 X 3,900 0 No Effect 200 Favorable 300 X Unfavorable 100 X Unfavorable