Luster, Inc. produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringues, and fudge. Luster uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 were as follows: (Click the icon to view the results.) Read the requirements. Performance Report, June 2017 Actual Static Results Budget 460,000 Units (pounds) 447,000 Revenues $ 2,626,600 $ 2,592,600 Variable manufacturing costs 1,651,400 1,564,500 $ 975,200 $ 1,028,100 Contribution margin Joe Halper, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $52,900, which is just over 2% of the budgeted revenues of $2,592,600. Overall, Halper feels that the business is running fine. Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. Begin with the flexible budget columns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. 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. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, X.XX%.) Actual Flexible- Budget Flexible Results Variances Budget Sales- Volume Variances Static Budget Static- Budget Variances Units (pounds) Revenues 460,000 460,000 $2,626,600 $ 41,400 U $ 2,668,000 Variable mfg. costs 1,651,400 41,400 U 1,610,000 Contribution margin $ 975,200 82,800 $1,058,000