E7-22 (similar to) Question Help Bennett Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $45, $9, and $13, respectively. The president is pleased with the following performance report: (Click the icon to view the performance report.) Actual output was 9,800 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 Output units Direct materials Direct manufacturing labor Direct marketing labor Total direct costs 0 Data Table - Variance Direct materials Direct manufacturing labor Direct marketing (distribution) labor Actual Costs Static Budget $ 450,500 $ 486,000 94,400 97,200 128,900 140,400 $35,500 F 2,800 F 11,500 F Print Done