Finance Assistant Printers Inc. produces luxury chequebooks with three cheques and stubs per page. Each chequebook is des September 2018 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 less than anticipated asked to provide explanations for the disappointing September results. Finance Assistant develops its flexible-budget-based bu Required Requirement 1. OMIT - NOT REQUIRED Requirement 2. Prepare a Level 2 analysis of the September performance. Begin with the actual results, and then complete the flexible budget columns and the static budget columns. Label each variance the variance is zero, do not select a label. Enter operating losses with a minus sign or parentheses.) Actual Results Flexible-Budget Variances Flexible Budget Sales Volume Variances Units sold 9,500 Revenues Variable costs Contribution margin Fixed costs Operating income Static Budget 15,000 ch variance a Operating budget and actual results per 8utput unit without a detailed analy X The budgeted amounts for September 2018 were: Number of chequebooks ure to enter "0" in 15,000 Selling price per book 24 Variable costs per book 8 Total fixed costs for the month $ 140,000 The actual results for September 2018 were: Number of chequebooks produced and sold 9,500 Average selling price per book 29.60 Variable costs per book $ 6 Total fixed costs for the month 142,500