Calculate a flexible budget for SBS Pty Ltd (SBS) for the year ending 30 June 2022 which is provided by the excel sheet. Compare the variance between static and actual net profit and flexible and actual net profit. What do these figures tell us about SBS's performance? Provide a thorough analysis with examples from the case.

SBS Pty Ltd Budget report for the year ending 30 June 2022 Static Budget Actual No. of 3D models sold 12 400 14 000 Revenue $10 168 000 $11 340 000 Production costs: Variable costs- Direct $2 300 000 $2 700 000 labour Other variable costs $760 000 $921 000 Contribution margin $7 108 000 $7 719 000 Fixed overhead $1 800 000 $1 850 000 Rent $630 000 General office expense $820 000 Support department costs Net Profit $3 200 000 $606 000 $930 000 $3 500 000 $658 000 $833 000