Question 7 (3.33 points) The following profit information was taken from Coastal Hospital's budget data: Static budget $1,200,000 Flexible budget $1,000,000 Actual results $500,000 What is the total profit variance? -$700,000 (negative) $500,000 (positive) 0 - $200,000 (negative) 0-$500,000 (negative)