Olympus Co. Flexible Budget Performance Report For the Year Ended July 31, 2019 (1-3) (3-5) Flexible Flexible Sales Budget Budget Volume Variance Variance Actual Results Static Budget Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income 72,150 428,000 189,000 239,000 138,000 101,000 67,500 390,000 171.000 219,000 141,000 78,000 a. Complete the performance report for Olympus Corporation. b. Comment on Olympus Corporation. 5. Consider the following: Laconia Co. Flexible Budget Performance Report For the Year Ended July 31, 2019 61-3) (3-5) Flexible Flexible Sales Budget Volume Variance Variance Actual Results Budget Static Budget Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income Laconia Corporation is the largest manufacturer of protective armor plating for homes in the United States. They feel like the corporation is having budgeting issues. They have consulted with you to create a performance report. Laconia Corporation is the largest manufacturer of protective armor plating for homes in the United States. They feel like the corporation is having budgeting issues. They have consulted with you to create a performance report. Static Budget: 2,500 Units Sold Variable expense per unit: $378.00 Contribution Margin: $1,878,000 Fixed Expenses: $1,247,250 Actual Results: 2,250 Units Sold Sales Revenue: $2,050,000 Variable expense per unit: $466.67 Fixed Expenses: $1,245,000 a. Complete the performance report for Laconia Corporation. b. Comment on Laconia Corporation