Kluver Enterprises manufactures tires for the Formula 1 motor racing circuit For August 2017 budgeted to manufacture and sell 3.100 tires at a variable cost of $73 per tire and totaled costs of $55.000. The budgeted selling price was $112 per tire. Actual results in August 2017 were 3.000 tires manufactured and sold at a selling price of $113 per tre. The actual total vanable costs were $243,000, and the actual total costs were $49.000 Read the reguiremans Requirement 1. Prepare a performance report that uses a flexible budget and a static budget Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter appropriate field. If the variance is zero, do not select a label) in Actual Flexible-Budget Flexible Variances Budget Results 3.000 Units sold Revenues $ 339,000 243,000 Variable costs Contribution margin Fixed costs 96,000 49.000 47.000 $ Operating income E Question Help armula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $73 per tire and total foxed costs of $53,000. The results in August 2017 were 3,000 tires manufactured and sold at a selling price of $113 per tire. The actual total variable costs were $243.000, and the actualto hat uses a flexible budget and a static budget. flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter"0" select a label.). e-Budget 0 Requirements ances 1. Prepare a performance report that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1. Print Done