Baird 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: Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget 27,000 kits $191,700 164,700 40,500 396,900 219,000 $615,900 Actual Results 29,600 kits $248,060 175,060 46,300 469,420 214,200 $683,620 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Required A Required B Convert the static budget into a flexible budget. (Do not rour Flexible Budget Production in units Kits Direct materials Direct labor $ O Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs $ O Required A Required B Calculate the variances. (Indicate the effect of each variance b for no effect (i.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs