Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on Actual orders for Static Budget (based on budgeted orders for 450,000 units) 480,000 units) $4,800.000 Sales revenue . . $4.968,000 . . Less Variable costs 1,440,000 276,000 674,400 1,440,000 336,000 624,000 Direct labor Variable marketing and 468,000 $2.858,400 $2.109.600 480,000 $2.880,000 $1,920,000 Less Fixed costs Manufacturing overhead Marketing.. 988,800 960,000 288,000 288,000 204.000 180,000 $1428.000 -$492,000 Total fixed costs.... $1.480,800 Required 1. Prepare a flexible budget for Osage, Inc. 2. Prepare and explain activity variances for Osage, Inc. 3. Prepare and explain revenue/spending variance for Osage, Inc