B) Budgeting and Standard Costing B 1) The organization has a budgetary system and regularly compares the actual results with the budgeted figures. For the month of February 2022, the following information was extracted from the books of the company. Budgeted Actual Production in Units 3,000 3,500 Direct Materials 90,000 99,600 Direct Labour 48,000 55,200 Variable Manufacturing Overheads 6,000 9,000 Depreciation 2,000 2,000 Office Rent 3,000 3,000 Administrative Salaries 12,000 12,500 You are asked to prepare: 1) A Static Budget Report for the month of February 2) A Flexible Budget Report for the month of February. 5 Marks 5 Marks