Chacha Inc is a manufacturing firm and has provided following data related to costs: Details...Fixed Cost/Month ($)..Cost/unit of production ($) Wages and Salaries.. 23200.. 16 Parts and Supplies..x.. 9 Equipment Depreciation.. 1600.. 0.4 Lorry Operating Expenses.. 5500.. 1.5 Rent.. 3310 .. x Administrative Expenses.. 4400.. 0.8 Chacha computes the total costs as fixed cost/month plus variable cost. The company expected to produce 2800 units in May, but actually produced 3000 units. The products selling price is $46 per unit. Instructions: a) Prepare static budget at the company's expected level of production (2.5 Marks) b) Prepare a flexible budget at the company's actual level of production (2.5 Marks) c) Indicate the variances wheather favoarable or unfavorable (2 Marks)