Question 2 Oasis manufactures two different types of chairs: one for the residential market, and the other for the office market. Budgeted and actual operating data for the year 2020 are: Static Budget Number of chairs sold Contribution margin Residential 280,000 $28,000,000 Office 120,000 $9,600,000 Actual Results Number of chairs sold Contribution margin Residential 248,400 $22,356,000 Office 165,600 $13,248,000 Required: Compute the following variances in terms of contribution margin: a. Compute the total static-budget variance, the total flexible-budget variance, and the total sales-volume variance. 12 marks b. Compute the sale-mix variance and the sales-quantity variance by type of chair, and in total. 18 marks