in my assignment i am asked to :

Assume the actual results for your products/services costs (i.e price of direct materials, direct labour and overheads) are 10% more than what you budgeted for in your individual assignments' master budget and the quantities are 5% (i.e sales level, quantity of materials used, etc) less to prepare the following for each subsidiary:

A static budget at budgeted sales.

A flexible profit and loss statement budget using actual sales level.

Actual profit and loss statement.

Calculate variances and investigate reasons for two of the most significant variances

my question is what would a static budget at budgeted sales look like? or be? im assuming its not the entire master budget as ive already done that as required as part 1 of the assessment this is part 2