Max Ltd produces personalised bags. Each bag is designed for an individual customer and is ordered over the internet. The company's operating budget for September included these data: Number of shirts Selling price per shirt Variable cost per shirt Fixed costs for the month 25,000 $50 $23 $225,000 30,000 $48 $25 $212,500 Actual results for September were; Number of shirts produced and sold Average selling price per shirt Variable cost per shirt Fixed costs for the month Required: a) Prepare a static-budget-based variance analysis of the September performance. Including Favourable variances (F)/Unfavourable variances (U). use the following table. (4.5 Marks) b) Prepare a flexible-budget-based variance analysis of the September performance. Including Favourable variances (F) /Unfavourable variances (U use the following table. (5.5 Marks)