Using the following information, prepare a flexible budget and calculate the volume variance for that flexible budget. Static Budget: Net Income $175,000 Company's actual results: \begin{tabular}{|l|l|} \hline Units Produced/Sold & 60,000 units \\ \hline Sales Revenue & $625,000 \\ \hline Direct Materials & $61,000 \\ \hline Direct Labor & $170,000 \\ \hline Variable Overhead & $28,000 \\ \hline Total Variable Costs: & $259,000 \\ \hline Contribution Margin: & $366,000 \\ \hline Fixed Costs & $200,000 \\ \hline Net Income & $166,000 \\ \hline \end{tabular}