Treanor Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020 , it budgeted to manufacture and sell 3,100 tires at a variable cost of $71 per tire and total fixed costs of $56,500. The budgeted seling price was $112 per fice. Actual results in August 2020 were 2,900 tires manufactured and sold at a seling price of $115 per tire. The actual total variable costs were $229,100, and the actual total fixed costs were $53,000. Read the tequirements. Requirement 1. Prepare a performance report with a flexible budget and a static budget. Begin with the actual results, then complete the fexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a so balance, make sure to enter " 0 " in the appropriate field. If the variance is zheo, do not select a label.) Requirements 1. Prepare a performance report with a tlexible budpet and a static budget. 2. Comment on the results in requirement 1