Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 5,500 units. The following variances were observed: Actual Results Variances Units Sales Variable Expenses Fixed Expenses Net Income (loss) $162,500 $25,000 Favorable 77,900 11,900 Unfavorable 82,700 200 Unfavorable $1,900 $12,900 Unfavorable Determine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leave the amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300). Static budget Flexible budget Actual Results Variances Units 5,500 6,500 Sales 137,500 $ 162,500 $ 162,500 0 No Effect Variable Expenses 66,000 X 77,900 X Fixed Expenses 82,700 X 82,500 X 66,000 X 82,500 X 11,900 X Favorable 200 X Unfavorable Net Income (Loss) 1,900 X 14,800 X 14,800 X 12,900 X Unfavorable