ding flexible budgeting concepts LO 15-3, 15-4, 15-5 Koch Medical Equipment Company makes a blood pressure measuring kit. Albert Kaiser is the production manager. The production departments static budget and actual results for 2015 follow. Static Budget Actual Results Production in units 29,000 kits 30,700 kits Direct materials $ 179,800 $ 228,440 Direct labor 150,800 153,340 Variable manufacturing overhead 43,500 48,550 Total variable costs 374,100 430,330 Fixed manufacturing overhead 210,000 205,700 Total manufacturing cost $ 584,100 $ 636,030 Required a. Convert the static budget into a flexible budget. (Do not round intermediate calculations.) b. Calculate variances and indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) ReferenceseBook & Resources WorksheetDifficulty: 2 MediumLe