EXERCISES-SET A E10-1A. Static and Flexible Budgets Graham Corporation used the following data to evaluate its current oper- ating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Units sold. Variable costs. Fixed costs. a. b. C. d. Actual Budgeted 400,000 units 430,000 units $1,250,000 $1,500,000 $1,500,000 $1,290,000 Prepare the actual income statement, flexible budget, and static budget. What is the static-budget variance of revenues? What is the flexible budget variance for variable costs? What is the flexible budget variance for fixed costs?

A. Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. 1041 a. Prepare the actual income statement, flexible budget, and static budget. b. What is the static-budget variance of revenues? c. What is the flexible budget variance for variable costs? d. What is the flexible budget variance for fixed costs