Personal Assistant Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget for September 2017 included these data: (Click the icon to view the operating budget and actual results.) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-than-budgeted variable cost per unit. As the company's management accountant, you have been asked to provide explanations for the disappointing September results. Personal Assistant develops its flexible budget on the basis of budgeted per-output-unit revenue and per-output-unit variable costs without detailed analysis of budgeted inputs. Read the requirements. Requirement 1. Prepare a static-budget-based variance analysis of the September performance. Begin with the actual results, then compute the static budget and the static-budget variances. Label each variance as favorable or unfavorable. (Enter an operating loss with a minus sign or parentheses.) i Data Table Actual Results Static-Budget Variances Static Budget The budgeted amounts for September 2017 were: Units sold Revenues Variable costs Contribution margin Number of checkbooks 13,000 Selling price per book $ 25 Variable cost per book $ 8 Fixed costs for the month $ 130,000 The actual results for September 2017 were as follows: Fixed costs Operating income (loss) 10,900 26 Requirement 2. Prepare a flexible-budget-based variance analysis of the September performance. Number of checkbooks produced and sold Average selling price per book Variable cost per book Fixed costs for the month 7 Enter operating losses with a minus sign or Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to er parentheses.) 135,700 Static Actual Results Flexible-Budget Variances Flexible Budget Sales-Volume Variances Budget Print Done Units sold Revenues Variable costs Contribution margin Fixed costs Choose from any list or enter any number in the input fields and then continue to the next