Chiffon, Inc. produces the basic fillings used in many popular frozen desserts and treats long dash —vanilla and chocolate ice creams, puddings, meringues, and fudge. Chiffon Chiffon uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 2017 were as follows: LOADING... (Click the icon to view the results.) Read the requirements LOADING... . Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. Begin with the flexible budget columns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. Label each variance as favorable (F) or unfavorable (U). (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. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, X. XX%.) Flexible- Actual Budget Flexible Results Variances Budget Units (pounds) Revenues Variable mfg. costs Contribution margin