5 points Gibson Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow. Static Budget Actual Results Production in units 27,000 kits 28,600 kits Direct materials $210,600 $261, 480 Direct labor 183,600 188,980 Variable manufacturing overhead 40,500 45,900 Total variable costs 434,700 496, 360 Fixed manufacturing overhead 218,000 213, 100 Total manufacturing cost $652,700 $709,460 Required a. Convert the static budget into a flexible budget b. Calculate the variances. Answer is not complete. Complete this question by entering your answers in the tabs below. Answer is not complete. Complete this question by entering your answers in the tabs below. 5 points 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 (.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs