Exercise 15-10 Evaluating a cost center including flexible budgeting concepts LO 15-3, 15-4, 15-5 Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for 2019 follow: Production in units Direct materials ($6.30 per unit) Direct labor (55.30 per unit) Variable manufacturing overhead (51.50 per unit) Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget Actual Results 40.000 kits 42,500 kits $252,000 $306,150 212,600 217,950 60,000 67,250 524,000 591,250 211,000 206, 900 5735,000 5798,250 Required a. Convert the static budget into a flexible budget. b. Calculate the volume variance for Direct materials, Direct labor and Fixed manufacturing overhead c. Calculate the flexible budget variances for Direct materials. Direct labor and Fixed manufacturing overhead. Complete this question by entering your answers in the tabs below. Exercise 15-10 Evaluating a cost center including flexible budgeting concepts LO 15-3, 15-4, 15-5 Walton Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for 2019 follow: Production in units Direct materials ($6.30 per unit) Direct labor (55.30 per unit) Variable manufacturing overhead (51.50 per unit) Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget Actual Results 40.000 kits 42,500 kits $252,000 $306,150 212,600 217,950 60,000 67,250 524,000 591,250 211,000 206, 900 5735,000 5798,250 Required a. Convert the static budget into a flexible budget. b. Calculate the volume variance for Direct materials, Direct labor and Fixed manufacturing overhead c. Calculate the flexible budget variances for Direct materials. Direct labor and Fixed manufacturing overhead. Complete this question by entering your answers in the tabs below