Gibson Medical Equipment Company makes a blood pressure messuring kit. Joson McCoy is the production mansger. The production deportment's static budget and actual results for Year 3 follow: Required a. Convert the static budget into o flexible budget. b. Colculate the vorionces. Complete this question by entering your answers in the tabs below. Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)