Galvas X 1 0 The following information pertains to the month of August. As part of the budgeting process, Shelley Company developed the following static budget for August. Shelley Company is in the process of preparing the flexible budget and understanding the results. S Actual Results 50,000 Flexible Budget Static Budget 60,000 Sales volume (in units) Sales revenues Variable costs $1,000,000 780,000 $1,200,000 900,000 Contribution margin 220.000 $ 300,000 Fixed costs Operating profit 158.000 $ 62,000 150,000 $ 150,000 The flexible budget will report for variable costs. O $900.000 O $750,000 O $1.050.000 O $780.000 O $480.000