Sheffield Entertainment Corporation prepared a master budget for the month of November that was based on sales of 197,200 board games. The budgeted income statement for the period is as follows. $2,958,000 $887,400 414,120 650,760 Sales Revenue Variable expenses Direct materials Direct labor Variable overhead Total variable expenses Contribution margin Fixed overhead Fixed selling and administrative expenses Total fixed expenses Operating income 1,952,280 1,005,720 220,000 430,000 650,000 $355,720 During November, Sheffield produced and sold 153,700 board games. Actual results for the month are as follows. $2,215,500 $680,350 308,470 497,210 Sales Revenue Variable expenses Direct materials Direct labor Variable overhead Total variable expenses Contribution margin Fixed overhead Fixed selling and administrative expenses Total fixed expenses Operating income 1,486,030 729,470 207,000 445,000 652,000 $77,470 (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal places, e.g. 5.25 & all other answers to decimal places, e.g. 125.) Unit 153,700 games Sales revenue ta $ Less : Variable expenses . Direct material Direct labor Variable overhead Total variable expenses Contribution margin ta Less 4: Fixed expenses Overhead Selling and administrative Total fixed expenses Operating income $ (b) Calculate Sheffield's static budget variance for November. (Round answers to 0 decimal places, e.g. 125. variance amounts as positive values. If variance is zero, select "Not Applicable" and enter 0 for the amo Actual Results Static Budget Variance Unit Sales Sales revenue $ $ $ ta Less 4: Variable expenses Direct material Direct labor Variable overhead Total variable expenses Contribution margin Less : Fixed expenses Overhead Selling and administrative Total fixed expenses Operating income $ $ $ (b) Calculate Sheffield's static budget variance for November. (Round answers to 0 decimal places, e.g. 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter 0 for the amounts.) Actual Results Static Budget Variance Static Budget $ $ $ $ $ $ + $