Bryant Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $44, $9, and $11, respectively. The president is pleased with the following performance report: (Click the icon to view the performance report.) Actual output was 10,400 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 Results Data Table 10400 Output units Direct materials Direct manufacturing labor Direct marketing labor Actual Costs Static Budget Variance $ 465,100 $ 501,600 $36,500 F Direct materials Direct manufacturing labor Direct marketing (distribution) labor 99,800 102,600 2,800 F Total direct costs 116,900 125,400 8,500 F