The following data were collected by Bemidji Co. for the month of June:

Static budget data:Sales14,000units @ 48/unitVariable costs$33.00per unitTotal fixed costs$29,400Actual results:Sales15,600units @ $47/unitVariable costs$36.00per unitTotal fixed costs$27,800

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).)

4.This part of the question is not part of your Connect assignment.