Bennett Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $42, $7, and $15 respectively. The president is pleased with the following performance report: EEB (Click the icon to view the performance report.) Actual output was 8,600 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 "0" in the appropriate field. If the variance is zero, do not select a label.) Actual Data Table Results Output units Direct materials Actual Costs Static Budget Variance Direct manufacturing labor $ 385,500 $ 420,000 $ 34,500 F Direct materials Direct marketing labor 67,600 Direct manufacturing labor 70,000 2,400 F Direct marketing (distribution) labor 139,500 150,000 10,5 00 F Total direct costs Print Done Enter any number in the edit fields and then click C