Vincent Corporation prepared a budget last period that called for sales of 80,000 units at a price of $32 each. The production costs per unit were estimated to amount to $20 variable and $8 fixed. Selling and administrative costs were all fixed at $100,000. During the period, production was exactly equal to the actual sales volume of 85,000 units. The actual selling price was $35 per unit. Actual variable costs were $22 per unit and actual fixed production costs totaled $660,000. Selling and administrative costs were $90,000. Required: a) Prepare operating statements for the actual output, as well as a static budget and flexible budget. b) Explain what is indicated when comparing the operating statements.