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a] 1What is the company's. [i] static budget and [ii] flexible budget for the variable overhead costs? marks] b) What is the company's variable overhead costs' (i) spending variance and (ii) efficiency variance? marks)c] Regarding the company's actual results, flexible budget, and static budget, does having a small static- budget variance always implies a good budgeting process? Use your calculations to support your argument. I? marks] d) Provide evidence and justify whether there has been a budgetary slack when planning the results. (6 marks)Shale Pt|,,f Ltd has a standard variable overhead rate of $5 per direct labour hour. The standard quantity of direct labour per unit of production is 3 hours. The company's static budget was based on 50,000 units. Actual results for the year are as follows. Actual units produced 451000 Actual direct labour hours 100,000 Actual variable overhead $365,000 The time has come for the company:r to compare of actual results with planned results. Required