The following information was drawn from the accounting records of Smith Company Sales Cost of Goods Sold Gross Margin Variable Cost Fixed Cost Net Income Static Budget $11,500 (6,300) 5,200 (2,300) (1,300) $ 1,600 Flexible Budget $15,000 (7,800) 7,200 (2,850) (1,300) $ 3,050 Actual Results $16,300 (7,050) 9,250 (3,350) (1,600) $ 4,300 Based on this information the The following information was drawn from the accounting records of Smith Company Sales Cost of Goods Sold Gross Margin Variable Cost Fixed Cost Net Income Static Budget $11,500 (6,300) 5,200 (2,300) (1,300) $ 1,600 Flexible Budget $15,000 (7,800) 7,200 (2,850) (1,300) $ 3,050 Actual Results $16,300 (7,050) 9,250 (3,350) (1,600) $ 4,300 Based on this information the