Treanor Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,500 tires at a variable cost of $80 per tire and total fixed costs of $54,000. Te budgeted seling price was $110 per tire. Actual results in August 2017 were 3,200 tires manufactured and sold at a selling price of $112 per tire. The actual total variable costs were S281,600, and the actual total fixed costs were $50,000. Read the requirements. Requirement 1. Prepare a performance report that uses a flexible budget and a static budget Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "O" in the appropriate field. If the variance is zero, do not select a label.) Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances Budget Requirements Units sold Variable costs Contribution margin Fixed costs Operating income Requirement 2. Comment on the results in requirement 1 The total static-budget variance in operating income is $ variance and a(n) manufactured and sold were primarily to the 1. Prepare a perfomance report that uses a flexible budget and a static budget 2. Comment on the results in requirement 1 Print Done There is a) total flexible-budget sales-vclume variance. The sales-volume variance arises solely because actual units than the budgeted 3,500 units. The flexible-budget variance in operating income is due in unit variable costs