LL F Flexible Budget Home Run Practice! His for Home Run The president of the company, Gregory Peters, has come to you for help. Use the following data to answer the following questions: Budgeted Actual Sales volume: Sales price: 12,000 10,000 $24 per unit $22 per unit Variable costs: Direct materials $5 per unit $6 per unit FFFF Direct Labor Variable overhead $2 per unit $2 per unit $7 per unit $8 per unit Variable Admin Exp $3 per unit $2 per unit Variable Selling $1 per unit $2 per unit Fixed costs: F Manufacturing Overhead $50,000 $60,000 F Admin Exp $20,000 $15,000 LL F LL Required: Prepare contribution margin income statement for actual results, static budget and flexible budget Calculate Static budget variance, flexible budget variance and sales volume variance.