Question ?: The month of January 2018' is complete , and LiveColor wants to compare their budget to their actual results. Actual results are shown in the table above . 130 points ! al Compare January's actual results to the static budget You created in Question la. Analyze the static budget variances by comparing the Static budget to the actual results . Lil Break out anice and volume variance amounts for each line item . [ ! For the static budget variances . indicate whether each line item is favorable or unfavorable. Provide possible explanations . !) Create the Flexible budget based on the actual units produced for January! { } Compare the actual results to the Flexible budget for January that you created in Question 2d . Analyze the flexible budget variances by comparing the flexible budget to the actual results . For the flexible budget variances , indicate whether each line item is favorable or unfavorable. It Provide possible explanations . El Live Color wants to determine whether they should use a flexible budget or a static budget going forward . Write a memo to their CFO Explaining some pros and cons of cach gation . Provide a recommendation including the reasont's! you recommend that approach