And here is the the format of Exhibit 7-6

Flexible and Static Budgets Beta Gamma Sigma, the business honor society, recently held a dinner dance. The original (static) budget and actual results were as follows Actual 90 $3,255 1,767 466 Static Budget Variance Attendees Revenue Chicken dinners at $19.00 Beverages, $6 per person Club rental, $75 plus 8% tax Music, 3 hours at $250 per hour Profit 75 $2,625 1,425 450 S630 F 342 U 16 U 0 125 U $147 F 750 $ (81) 875 $ 66 1. Subdivide each variance into a sales-activity variance portion and a flexible-budget variance por- tion, Use the format 2. Provide possible explanations for the variances