Walsh Enterprises manufactures tires for the Formula 1 motor racing circuit, For August 2017, it budgeted to manufacture and sel 3,700 tires at a variable cost of $74 per tire and total fxed costs of $57,000. The budgeted seling price was $115 per tire. Actual results in August 2017 were 3,600 tires manufactured and sold at a seling price of $119 per tire. The actual total variable costs were $288,000, and the actual total fixedt costs were $54,500 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 fexible budget oolumns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter 0" in the appropriate field. If the variance is zero, do not select a label) Sales-Volume Static Flexible-Budget Flexible Actual Budget Budget Variances Results Variances Units sold Revenues Variable costs Contribution mangin Foxed costs Operating income Requirement 2. Comment on the resuits in requirement 1. tobl fexibie-budget There is aln) The total static-budget vawiance in operating income is $ Choose from ary ist or enter any number in the input feids and then continue to the next question 96png label. or varianCes Requirements get 1. Prepare a performance report that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1 Print Done