Toyworld manufactures and sells a line of toys. The toys are primarily distributed through department stores. As president of Toyworld, you wanted to analyze Toyworld's profitability. Your capable assistant provided you with the following data:

Static$/$Master Actual Budget

Selling price, per unit $$20\mathrm{.}00$ $$21\mathrm{.}00$

Variable manufacturing cost, per unit $11\mathrm{.}0012\mathrm{.}00$

Variable marketing and administrative expenses, total $9,000*11,550$

Fixed manufacturing cost, total $34,50036,000$

Fixed marketing and administrative expenses, total $40,00044,000$

Sales volume, in units $9,00010,000$

$*5\%$ of sales revenue

Required:

a$)$ Your assistant has requested you to complete the "Flexible Budget" and "Static$/$Master Budget" columns of the analysis, reproduced below $($She had to attend to an out$-$of$-$town emergency$)$:

Actual Results Flexible Budget Static$/$Master Budget

Units sold $10,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Revenues $($sales$)$ $$210,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Variable expenses:

Manufacturing $$120,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Marketing and administrative $11,550$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

$$131,550$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Contribution margin $$78,450$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Fixed expenses:

Manufacturing $$36,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Marketing and administrative $44,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

$$80,000$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

Operating income $($loss$)($$$1,550)$ $$\_\_\_\_\_$ $$\_\_\_\_\_$

b$)$ Calculate the following variances: flexible budget variance, sales volume variance, and total static budget variance.