HELEEN Manufacturing Company prepares master budget. The Company had a static budgeted operating income of $9.6 million. Actual operating income was $6.4 million. The flexible budget operating income at the actual level of output is $7,000,000. What is the static-budget variance of operating income? Select one: a. $1.6 million Favorable b. $3.2 million Unfavorable c. $3.2 million Favorable d. $1.6 million Unfavorable