Flexible and Static Budgets Beta Gamma Sigma. the business honor society. recently held a dinner dance. The original {static} budget and actual results were as follows: Static Budget Actual Variance Attendees _'l'5 _90 Revenue $2.625 $3,255 8630 F Chicken dinners at $l9.00 [.425 1,16? 342 U Beverages. $6 per person 45!) 466 16 U Club rental, $15 plus 8% tax 81 8] D Music. 3 hours at $250 per hour J0 i m Prot m 366 $I4i' F l. Subdivide each variance into a sales-activity variance portion and a flexible-budget variance por- tion. Use the format 2. Provide possible explanations for the variances