Answer each question and insert into excel spreadsheet when answers are needed

1. Calculate and prepare the static budget, flexible budget, and actual results based upon the following information. 2. Answer the following questions: - Using the Variance Analysis Information , what are the profit variance, revenue variance, and cost variance? - Considering the revenue side, what is the volume variance and price variance? - Considering the cost side, what is the volume variance and management variance? - Break the management variance into labor, supplies, and fixed cost variances. - Break down the labor and supplies variances into rate/price and efficiency/usage components. 3. Submit a copy of your work below. 1. Calculate and prepare the static budget, flexible budget, and actual results based upon the following information. 2. Answer the following questions: - Using the Variance Analysis Information , what are the profit variance, revenue variance, and cost variance? - Considering the revenue side, what is the volume variance and price variance? - Considering the cost side, what is the volume variance and management variance? - Break the management variance into labor, supplies, and fixed cost variances. - Break down the labor and supplies variances into rate/price and efficiency/usage components. 3. Submit a copy of your work below