Saan Corporation used the following data to evaluate their current operating system. The company sells items for $20 each and used a budgeted selling price of $20 per unit.

Actual Budgeted Units sold 315,000 units 300,000 units Variable costs $4,095,000 $700,000 Fixed costs $ 490,000 $ 520,000 Required: Prepare a Level 1 static-budget variance analysis using a income statement in contribution margin format. Use the following three column headings: Actual Results, Static Budget, Static-budget Variance.