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The following information was drawn from the accounting records of Smith Company Sales Cost of Goods Sold Gross Margin Variable Cost Fixed Cost Net Income Static Budget $13,500 (6,700) 6,800 (2,700) (1,700) $ 2,400 Flexible Budget $19,000 (8,600) 10,400 (3,450) (1,700) $ 5,250 Actual Results $21,100 (7,250) 13,850 (4,350) (2,000) $ 7,500 Based on this information the Multiple Choice cost of goods sold flexible budget variance is a $1,000 unfavorable variance. cost of goods sold volume variance is a $1,000 favorable variance. cost of goods sold flexible budget variance is a $1,900 favorable variance. cost of goods sold volume variance is a $1,900 unfavorable variance