Bryant Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $43, $6, 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. 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 Flexible-Budget Flexible Sales-Volume Static Results Variance Variance Budget Budget 10,000 10,000 Output units Direct materials $ 438,000 $ 8,000 U $ 430,000 43000 F 473000 Direct manufacturing labor 63,600 3,600 U 60,000 6000 F 66000 133,500 3,500 U 130,000 13000 Direct marketing labor F 143000 $ 635,100 $ 15,100 $ 620,000 62000 U Total direct costs F 682000 Variance Direct materials Direct manufacturing labor Direct marketing (distribution) labor Actual Costs Static Budget $ 438,000 $ 473,000 63,600 66,000 133,500 143,000 $35,000 F 2,400 F 9,500 F