Write an analytical summary for Capital Budgeting in Managerial Decisions and Operating Budgets. In addition to your analytical summary, address the following:1. As a manager, discuss how you would use or have used the concepts presented in Capital Budgeting in Managerial Decisions and Operating Budgets.2. Why might managers find a flexible-budget analysis more informative than static-budget analysis?3. How might a manager gain insight into the causes of flexible-budget variances for direct materials, labor, and overhead?4. Provide at least one numerical example to support your thoughts.Should be more than 350 words.