The following information is provided concerning the operatings of Tolstoy Corporation for the current period: Sales (units) Sales Revenue Master Actual Budget 360.00 400.00 55,200.00 60,000.00 Manufacturing costs Direct labor Materials 8,520.00 9,000.00 7,200.00 8,400.00 Variable Overhead 4,920.00 6,000.00 Marketing 3,180.00 3,600.00 Administrative 3,000.00 3,000.00 Total Variable Costs 26,820.00 30,000.00 Contribution Margin 28,380.00 30,000.00 Fixed Costs Manufacturing Marketing Administrative 2,916.00 3,000.00 6,240.00 6,000.00 5,976.00 6,000.00 Total Fixed Costs 15,132.00 15,000.00 Profit 13,248.00 15,000.00 a. Prepare a static budget b. Prepare a flexible budget (check figure: Flexible Budget profit = 12,000.00)