Jay Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the information.) (Click the icon to view the partially completed performance report.) Calculate Jay Draperies' flexible-budget and sales-volume variances for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Results Static Budget Begin with the flexible-budget variance column, then the sales-volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Actual Flexible-Budget Sales-Volume Variance Variance Flexible Budget Reference 1,500 1,500 1,400 Units sold Revenues (sales) 285,000 300,000 280,000 162,750 165,000 154,000 Variable costs Contribution margin 122,250 135,000 126,000 Actual Results 1,500 Flexible-Budget Flexible Sales-Volume Variances Budget Variances Static Budget 1,500 1,400 Units sold Fixed costs 75,000 77,000 77,000 Revenues (sales) $ 285,000 $ 47,250 58,000 49,000 Operating income 162,750 $ 300,000 165,000 $ 280,000 154,000 Variable costs Contribution margin 122,250 135,000 126,000 75,000 Data table Fixed costs 77,000 77,000 $ 47,250 $ 58,000 49,000 Operating income Actual Budgeted Units made and sold 1,500 1,400 Selling price $190 per curtain $200 per curtain Variable costs $ 162,750 $110 per curtain Fixed costs $ 75,000 $ 77,000 Print Done Print Done