The following data are for the month of January for The Queen's Shoe Company: Static budget data: Sales of 9,000 pairs at $90 per pair Variable costs of $69 per pair Total fixed costs $108,000 Actual results: Sales of 9,600 pairs at $87 per pair Variable costs of $72 per pair Total fixed costs $109,200 Required: Create a variance analysis budget and answer the following questions: 1. What is the static budget operating income? 2. What is the sales activity variance for operating income? 3. What is the flexible budget variance for operating income