Check Mate Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget for September 2017 included these data: (Click the icon to view the operating budget and actual results.) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-than-budgeted variable cost per unit. As the company's management accountant, you have been asked to provide explanations disappointing September results. Check Mate develops its flexible budget on the basis of budgeted per-output-unit revenue and per-output-unit variable costs without detailed analysis of budgeted inputs. Read the requirements. Begin with the actual results, then compute the static budget and the static-budget variances. Label each variance as favorable or unfavorable. (Enter an operating loss with a minus sign or parentheses.) Static-Budget Actual Results Static Budget Variances Units sold - X Data Table Revenues . i X Requirements Variable costs Contribution margin Fixed costs The budgeted amounts for September 2017 were: 1. Prepare a static-budget-based variance analysis of the September performance. 2. Prepare a flexible-budget-based variance analysis of the September performance 3. Why might Check Mate find the flexible-budget-based variance analysis more informative than the static-budget-based variance analysis? Explain your answer. Operating income (loss) Number of checkbooks Selling price per book Variable cost per book Fixed costs for the month 20,000 22 9 110,000 $ $ $ Requirement 2. Prepare a flexible-budget-based variance analysis of the September performance. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or y parentheses.) Print Done The actual results for September 2017 were as follows: Flexible-Budget Flexible Sales-Volume Static Actual Results Variances Budget Variances Budget 16,800 23 Units sold Revenues Number of checkbooks produced and sold Average selling price per book Variable cost per book Fixed costs for the month 116,000 Variable costs Contribution margin Print Done Fixed costs Operating income (loss) Renuirement 3 Whu minht Chark Mato find the flavihlo.hudnet.hacer varianra analvcic more informative than the statir_hudnet.hacer variance analysis