Question 4 (8 marks) Lucky's Automotive produces auto parts for various automotive retailers. Lucky is evaluating the exhaust system division of the company and has come up with the following data for the year: net revenues are $1,200,000, variable costs are $400,000, and fixed costs are $300,000. Of the fixed costs, controllable fixe costs are $100,000 and noncontrollable fixed costs are $200,000. Required What is the controllable margin and total contribution by profit centre (CPC)? Place your answer in the space provided here below Question 5 (12 marks) Edwards and Bell market a single line of home computer, dubbed the XL-98. The master budget for the coming year contained the following items: sales revenue, $400,000; variable costs, $250,000; fixed costs, $100,000. Actual results for the year were as follows: sales revenue, $350,000; variable costs, $225,000; fixed costs, $95,000. The flexible-budget operating income for the year was $35,000. Required 1. What is the total static (master) budget variance in operating profit for the period? State the type of the variance. (4 marks) 2. What is the sales volume variance in operating profit? State the type of the variance. (4 marks) 3. What is the flexible budget variance? State the type of the variance. (4 marks)