Carlson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $40, $8, and $12, 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 "O" in the appropriate the variance is zero, do not select a label.) Actual Results Flexible-Budget Variance Flexible Budget Sales-Volume Variance Static Budget Data Table - X Output units Direct materials Direct manufacturing labor Direct marketing labor Direct materials Direct manufacturing labor Direct marketing (distribution) labor Actual Costs Static Budget $ 410,500 $ 448,000 $ 88,100 89,600 124,900 1 34,400 Variance 37,500 F 1,500 F 9,500 F 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. Print Done The existing performance report shows a variance shows each direct cost category to have an) cost item than was budgeted, or the use of total direct cost variance of $ The flexible-budget variance indicating efficient use of each direct direct cost items than was budgeted, or both. The revised performance report reveals that this variance is due to the vin output units from the amount budgeted. The president should analyze the for each cost category to assist in identifying the causes. Carlson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $40, $8, and $12, 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 "O" in the appropriate the variance is zero, do not select a label.) Actual Results Flexible-Budget Variance Flexible Budget Sales-Volume Variance Static Budget Data Table - X Output units Direct materials Direct manufacturing labor Direct marketing labor Direct materials Direct manufacturing labor Direct marketing (distribution) labor Actual Costs Static Budget $ 410,500 $ 448,000 $ 88,100 89,600 124,900 1 34,400 Variance 37,500 F 1,500 F 9,500 F 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. Print Done The existing performance report shows a variance shows each direct cost category to have an) cost item than was budgeted, or the use of total direct cost variance of $ The flexible-budget variance indicating efficient use of each direct direct cost items than was budgeted, or both. The revised performance report reveals that this variance is due to the vin output units from the amount budgeted. The president should analyze the for each cost category to assist in identifying the causes