Connolly Enterprises manufactures tires for the Formula I motor tacing circuit. For August 2020 , it budgeted to manufacture and sell 2,800 fres at a varable cost of $80 per tire and total fixed costs of $52,600. The budpeted selling price was $115 per tire. Actual results in August 2020 were 2,700 tires manufactured and sold at a selling price of $119 per tire. The actual fotal variable costs were $234,900, and the actual total food costs wore $48,000. Read the ceaulements. Requirement 1. Propare a perfomanoe roport with a floxiblo budpet and a statie budget Requirements 1. Prepare a performance report with a flexible budget and a static budget. 2. Comment on the results in requirement 1