The Groton Company produces engine parts for car manufacturers. A new accountant intern at Groton 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. Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Actual Results 103,000 Sales-Volume Variances Static Budget 92.000 $ Units sold Revenues (sales) Variable costs Contribution margin 695,250 455,000 377,200 193,200 240,250 151,250 184,000 95,000 Fixed costs 89,000 89,000 Operating income 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here