The Bolivar Theater created the following static budget for November based on 20,000 customers. Sales $600,000 Costs Variable 360,000 Fixed 25,000 Total costs 385,000 Net Income 215,000 Management has tasked you with building a flexible budget based on different levels of possible activities. The Bolivar Theater has indicated that variances greater than 2% of total actual sales should be investigated. Required: 1. Prepare a flexible budget for the following number of tickets sold: 15,000, 20,000, and 25,000. Use Exhibit 11-3 as a guide. 2. The actual results for November are listed below. The actual number of tickets sold was 16,129. Create a Performance Report with updated budget information based on actual tickets sold. You can use Exhibit 12-3 as your