ToasToe Inc. (TD is a manufacturer of heating elements for toaster ovens. To improve control over operations, the president wants to install a flexible budgeting system, rather than the single master budget being used at present. The following data are available for expected costs for production. The relevant range of production levels for fixed overhead costs is 80,000 to 180,000 units: Required: Prepare a flexible budget for each of the three possible sales ievels: 116,000,126,000, and 136,000 units. Each toaster oven is expected to sell for $22.40. The following dato were collected by Bemidji Co. for the month of June: Required: 1, 2&3. Prepare the static and flexible budgets and show the variances by completing the table given below. (lindicate the effect of each varlance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect fi.e., rero variance).) 4. This part of the question is not part of your Connect assignment