Cascade, lnc., produces the basic fillings used in mamy popular frozen desserts and treats-vanilla arid chocolate ice creams, puddings, meringues, and fudge. Cascade uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2020 were as follows: (Cick the icon to view the results) Read the requirements Requirements 1 and 2. Calculale the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its statio-budget amount? Break down each static-budgot 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 budgat variances: Finally, compute the static budget variance as a percentage of the static budget. Label each variance as favorable (F) or untavorable (U). (For variances with a 50 balance, make sure to enter "or" in the appropriate field. If the variance is zero, do not select a label. Round dollar amounts to the nearest whole dollar and percentacos fo hun idarimal places x aexic the appropriate Data table Jeff Geller, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than bdgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $52,900, which is just over 2% of the budgeted revenues of $2,592,600. Overall, Geller feels that the business is running fine. Requirements 1. 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? 2. Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. 3. Calculate the selling-price variance. 4. Assume the role of management accountant at Cascade. How would you present the results to Jeff Geller? Should he be more concerned? If so, why