ile Edit View Go Tools Window Help Horngren's Cost Accounting 16th Edition by Srikant M. 1 ASSIGNMENT MATERIAL 7-22 Flexible budget. Bryant Company's budgeted prices for direct materials, direct manufacturing la. bor, and direct marketing (distribution) labor per attach case are $43, S6, and $13, respectively. The presi dent is pleased with the following performance report: Actual Costs Static Budget Variance Direct materials $438,000 $473,000 $35,000 F Direct manufacturing labor 63,600 66,000 2,400 F Direct marketing (distribution) labor 133,500 143,000 9,500F Actual output was 10,000 attach cases. Assume all three direct cost items shown are variable costs. Is the president's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget Required