The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman 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. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.) Flexible-Budget Actual Results Variance Flexible Budget Units sold 102,000 Revenues (sales) Variable costs Contribution margin $ 693,600 430,000 263,600 118,600 Fixed costs 145,000 Operating income Data table Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Results Variances 102,000 Units sold Revenues (sales) 693,600 430,000 Variable costs Contribution margin 263,600 Fixed costs 118,600 $ 145,000 Operating income Flexible Sales-Volume Static Budget Variances Budget 96,000 393,600 153,600 240,000 95,000 S 145,000 Requirements 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here