1 5 points Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget 26,000 kits $205,400 179,400 39,000 423,800 210,000 $633,800 Actual Results 27,500 kits $254,550 183,250 43,750 481,550 204,900 $686,450 eBook References Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Flexible Budget 27,500 Kits Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Check my work 1 Static Budget 26,000 kits $205,400 179,400 39,000 423,800 210,000 $633,800 Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Actual Results 27,500 kits $254,550 183,250 43,750 481,550 204,900 $686,450 5 points eBook References Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Check my work 3 Benson Corporation has a desired rate of return of 9 percent. William Tobin is in charge of one of Benson's three investment centers. His center controlled operating assets of $2,450,000 that were used to earn $274,000 of operating income. 5 points Required Compute Mr. Tobin's residual income. eBook Residual income Hint References Check my work 4 Required Supply the missing information in the following table for Campbell Company. (Do not round intermediate calculations. Round "ROI" answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) 5 points Sales $ 316,800 eBook References ROI Operating assets Operating income Turnover 1.8 Residual income 14 % Operating profit margin Desired rate of return 19 %