7-21. FLEXIBLE BUDGET. Brabham Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020, it budgeted to manufacture and sell 3,000 tires at a variable cost of $73 per tire and total fixed costs of $57 , 000 . The budgeted selling price was $111 per tire. Actual results in August 2020 were 2,700 tires manufactured and sold at a selling price of $113 per tire. The actual total variable costs were $218 , 700 , and the actual total fixed costs were $53 , 500 . Required 1. Prepare a performance report (akin to Exhibit 7-2) with a flexible budget and a static budget. 2. Comment on the results in requirement 1