Avery Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $41, $7, and $15, respectively. The president is pleased with the following performance report: Click the icon to view the performance report.) Actual output was 9,400 attach cases. Assume all three direct-cost items above are variable costs Requirement Is the president's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Prepare a revised performance report that uses a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "O" in the appropriate field. If the variance is zero, do not select a label.) Flexible-Budget FlexibleData Table Actual Results Variance Budget Output units Direct materials Direct manufacturing labor Direct marketing labor Total direct costs 9.400 $ 389,900 70,200 146,500 $ 606,600 Actual Costs Static Budget Variance $ 389,900 $ Direct materials Direct manufacturing labor Direct marketing (distribution) labor 426,400 72,800 156,000 36,500 F 2,600 F 9,500 F 70,200 146,500 Print Done