The following data were collected by Bemidji Co. for the month of June: Static budget data: Sales Variable costs Total fixed costs Actual results: Sales Variable costs Total fixed costs. Sales (units) Revenue Variable expenses Contribution margin 11,500 units @ 40/unit $28.00 per unit $ 24,150 Required: 1, 2 & 3. Prepare the static and flexible budgets and show the variances by completing the table given below. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed expenses Income 12,600 units @ $39/unit $ 30.00 per unit $ 23,050 Actual 12,600 BEMIDJI COMPANY Static Budget Performance Report For the Month Ended June 30 Flexible Budget Variance U U U F U Flexible Budget 12,600 S Sales Volume Variance IF U 0 None Static Budget 11,500 Static Variance U U F U Sales Average operating assets Net operating income Property, plant, and equipment (net) Queensland New South Wales Division Rate of Return. % I 1,767.00 % Queensland $ 3,600,000 1,800,000 432,000 248,000 Required: 1. Compute the rate of return for each division using the ROI formula stated in terms of margin and turnover intermediate calculations and round your final answers to 2 decimal places.) New South Wales $ 6,200,000 6,200,000 390,000 1,500,000 2. Which divisional manager seems to be doing the better job?