Zoo Paradise produces garments for pets The company's operating budget for March 2016 included the following lines (the cat's sets product line): 15,000 Number of garments (sets) Selling price per set Variable costs per set Fixed costs for the month $ 20 $ 8 $145,000 The actual results for March 2016 were as follows: 12,000 Number of garments (sets) Selling price per set Variable costs per set Fixed costs for the month $ 21 $7 $150,000 Required 1. Prepare a static-budget-based variance analysis of the March performance (level 1) 2. Prepare a flexible-budget-based variance analysis of the March performance (level 2) 3. Why management find the flexible-budget-based variance analysis more informative than the comparison with static? Explain your