The Utica Company produces engine parts for car manufacturers. A new accountant intern at Utica has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017 The following table is what remains of the data. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a 50 balance, make sure to enter "O" in the appropriate field. If the variano is zero, do not select a label. Round your answers to the nearest whole dollar.) Actual Flexible-Budget Flexible - X Results Variance Budget Requirements Units sold 102.000 Revenues (sales) $ 693,600 475,000 Variable costs 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Static Contribution margin 218,600 2. What are the actual and budgeted selling prices? What are the actual and 147,850 budgeted variable costs per unit? Budget Fixed costs 3. Review the variances you have calculated and discuss possible causes and 95,000 $ $ 70,750 Operating income potential problems. What is the important lesson learned here? $ 403,750 228.000 DONDOL le 175,750 Print Done 105.000 $ 70,750 - Data Table Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances Budget 95,000 Units sold 102,000 Revenues (sales) $ $ 693,600 475,000 403,750 228,000 Variable costs Contribution margin 218,600 147,850 175,750 105,000 Fixed costs $ 70,750 $ 70,750 Operating income