Aspects Ltd produces picture frames. The company's variance analysis schedules have been erased because of a malware attack. The following information is all that remain for the year ended December 31, 2017. You are required to calculate all the required variances 1. Variance analysis for Aspects Ltd for the year ended December 31, 2017 Flexible- Actual Budget Flexible Sales- Static Budget Results Variances Budget Volume (5) (1) (2)=(1)-(3) (3) Variances (4)=(3)-(5) Units sold 130 000 125 000 Revenues $715 000 A$420 000 Variable costs 515 000 b 240 000 Contribution margin 200 000 187 200 180 000 Fixed costs 140 000 120 000 Operating profit A$60 000 A$67 200 A$60 000 b Total flexible-budget variance Total static-budget variance