1. The actual information pertains to the month of June. As a part of the budgeting process, Dubai Company developed the following static budget for June. Dubai is in the process of preparing the flexible budget and understanding the results. Static Actual Flexible Budget Flexible Sales Results Items Variances Budget Volume Budget Variances Sales volume (in units) 18,000 ? ? ? 20,000 Sales revenues $900,000 ? ? ? $800,000 Variable costs 360,000 ? ? 360,000 Contribution margin 540,000 ? ? 440,000 240,000 ? ? 300,000 Fixed costs Operating Income $300,000 ? ? ? $140,000 Complete the above schedule and compute level 2 analysis of variances ? ?