Is the presidents pleasure justified?Prepare a revised performance report that uses a flexible budget compared to actual results.

7-22. FLEXIBLE BUDGET. Bryant Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $43,$6, and $13, respectively. The president is pleased with the following performance report: Actual output was 10,000 attach cases. Assume all three direct-cost items shown are variable costs