Bryant Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $43, 56, and $13, respectively. The president is pleased with the following performance report (Click the icon to view the performance report) Actual output was 10,000 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 CID 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 50 balance, make sure to enter "0" in the appropriate fold If the variance is zero, do not select a label) Output units Actual Results Flexible-Budget Variance Flexible Budget Sales-Volume Variance Static Budget Direct materials Deect manufacturing labor Deed marketing labor Total direct costs Is the president's pleasure justified? The existing performance report is a analysis, based on a static budget. It makes for changes in output levels The existing performance report shows a variance shows each direct cost category to have a(n) cost Bem than was budgeted or the use of total deect cost variance of variance indicating direct cost hems than was budgeted. or both The flexible-budget efficient use of each direct in output units from the amount budgeted. The president should analyze the The revised performance report reveals that this variance is due to the for each cost category to assist in identifying the causes