Example: ELC corporation sold calculator for $12 each in 2021, its budgeted selling price $13 per unit, other information related to its performance is given below: Units made and sold Variable costs Fixed costs Actual 28,000 $90,000 $55,000 Budgeted 27,500 $3 per unit $58,000 Calculate ELC corporation static budget and static budget variances for: 1) Revenues. 2) Variable costs. 3) Fixed costs. 4) Operating income.