Styles Paragraph The Utica Company produces engine parts for car manufacturers. A new accountant intern at Utica has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. Performance Report Year Ended December 31, 2017 Flexible Budget Actual Flexible-Budget Sales-Volume Static Results Variances Variances Budget 90,000 101,000 Units sold Revenues (sales) Variable costs Contribution margin Fixed costs $ 306,000 681.750 435,000 246.750 170.750 76,000 135,000 171,000 95,000 76.000 Operating income S 1. Calculate all the required yariances. (If your work is accurate, you will find that 2. What are the actual and budgeted seling prices? What are the actual and 3. Review the variances you have calculated and discuss possible causes and the total static-budget variance is $O.) budgeted variable costs per unit? potential problems. What is the important lesson learned here