Jay Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the data.) Calculate Jay Draperies' static-budget variance for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Begin by determining all of the actual amounts, then the static budget amounts, and finally the static-budget variances. Label each variance as favorable (F) or unfavorable (U). Actual Static Static-Budget Results Budget Variance Units sold 1,500 1,400 Revenues $ 285,000 $ 280,000 U Variable costs 162,750 154,000 U Contribution margin 122,250 $ 126,000 Fixed costs 75,000 77,000 F $ 47,250 $ 49,000 Operating income F F U