The following fixed budget items were prepared at the beginning of 2021: Sales (predicted at 20,000 units) $700,000 Variable Costs 440,000 Fixed Costs 250,000 Operating Income 10.000 At the end of 2021, the company reported the results shown below for the sale of 18,500 units. Of the total expenses, 35% were fixed and the remainder were variable. Sales $601,250 Expenses 585.000 Operating Income 16,250 Instructions: In the variance requirements b-e below, show the budgeted amount to be used for the analysis, the actual amount, and then the mathematical variance followed by For U for favorable or unfavorable variance. (For example Budgeted Sales - XXX, Actual Sales =XXX, Variance = XX, F) a-Complete the following statement: To properly calculate variances, compare with the flexible budget amounts at b-Calculate the Sales variance and indicate if the variance is favorable or unfavorable. c-Explain what caused the sales variance in (a) above. d-Calculate the variable cost variance and indicate if the variance is favorable or unfavorable. e-Calculate the fixed cost variance and indicate if the variance is favorable or unfavorable