Practice on flexible budget. Bank Management 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 2009 included these data. Number of checkbooks 5,000 Selling price per book $ 10 Variable cost per book $ 5 Fixed costs for the month $10,000 The actual results for September 2009 were: Number of checkbooks 2,000 Selling price per book $ 18 Variable cost per book $ 4 Fixed costs for the month $15,000 A. Prepare a static-budget-based variance analysis of the September performance B. Prepare a flexible-budget-based variance analysis of the September performance Variance Analysis for Bank Management Printers for September 2009 Actual Static Static Budget Results Budget Variances Units sold Revenue Variable costs Contribution margin Level 2 Analysis Flexible Sales Actual Results Budget Variances Flexible Volume Static Budget Variances Budget Units sold Revenue Variable costs Contribution margin Fixed costs Operating income Total flexible-budget Total sales volume variance variance Total static-budget variance