37. Standard Cost and Flexible Budget. Solar Products, Inc., produces solar power systems for commercial buildings. Each solar power system has three solar panels. The company's master budget shows the following standards information. Expected production for January 300 solar power systems Direct materials 3 solar panels at $40 per panel Direct labor 35 hours per solar power system at $18 per hour 35 direct labor hours per solar power system Variable manufacturing overhead at $15 per hour Required: a. Calculate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead using the format shown in Table 10.1. b. Assume the company produced 320 solar power systems during January. Prepare a flexible budget for direct materials, direct labor, and variable manufacturing overhead using the format shown in Table 10.2. b. Flexible budget Flexible Budget at 320 Units Direct materials Direct labor Variable overhead Total budgeted variable production costs at 320 units Incorrect Incorrect Incorrect Incorrect