Check Plus 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 for the disappointing September results. Check Plus 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. The budgeted amounts for September 2017 were: Number of checkbooks 20,000 Selling price per book $ 24 Variable cost per book $ 10 Fixed costs for the month $ 145,000 The actual results for September 2017 were as follows: Number of checkbooks produced and sold Average selling price per book Variable cost per book Fixed costs for the month 16,900 25 9 149,500 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.) Units sold Revenues Variable costs Contribution margin Fixed costs Operating income (loss) Actual Results