State and flexible Burges Graham Corporation used the following data to evaluate its current operating system. The company sester for 510 each and tied a budgeted seling price of sto per un Art Buried 7400 ww5.000 a. Prepare the actual income statement flexible budget and state budget Do not use negatives with any of your answers below Acress Meet Det PH AVEL What is the bulge variance of revenue What is the edge variance for variable costs? d. What is the best budget variance for feed costs Check Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 794,000 800,000 Variable costs 1,745,000 2,000,000 Fored costs 1,420,000 1,375.000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold 794,000 794,000 800.000 Revenues $ 7,940,000 $7.940,000 $3,000,000 Variable costs 1.745.000 1.712.500 X 2,000,000 Contribution margin 6.195.000 6.227.500 X 6,000,000 Fixed costs 1,420,000 1,375,000 1,375.000 Operating income $ 4775,000 $4,852.500 X 4,625,000 For questions b. c, and d., do not use negative signs with your answers, Select either Ufor Unfavorable or Ffor Favorable using the drop down box next to each of your variance answers. b. What is the static-budget variance of revenues? $ 600,000 X c. What is the flexible budget variance for variable costs? $ 32,500 x FO d. What is the flexible budget variance for foxed costs? $ 45,000