Treanor Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2014, it budgeted to manufacture and sell 3,400 tires at a variable cost of $77 per tire and total fixed costs of $55,000. The budgeted selling price was $111 per tire. Actual results in August 2014 were 3,100 tires manufactured and sold at a selling price of $112 per tire. The actual total variable costs were $263,500, and the actual total fixed costs were $52,500 Requirements 1. Prepare a performance report that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1