Casey's Cereal is preparing their 2017 budget. They want to prepare a flexible budget for use each month. They estimate sales/production will be between 500,000 and 600,000 boxes of Crunchy O's cereal per month. Prepare a flexible budget for Casey's Cereal. Use proper Income Statement formatting. Show the flexible budget based on 500,000 units (boxes) produced. Show the flexible budget based on 600,000 units (boxes) produced. Show the flexible budget cost formulas for Casey's Cereal. Explain the benefit of flexible budgets and when they should be used. The months of January and February 2017 are complete, and Casey's Cereal wants to compare their budget to their actual results. Actual results are shown in the table above. Show the flexible budget based on actual units produced for each month. Compare actual results to budgeted results (Favorable or Unfavorable) for each month. Provide possible explanations for the favorable and unfavorable variances. Was net operating income better or worse than budget? Provide recommendations for Casey's Cereal. Use proper Income Statement formatting