Jackson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $41, $8, and $11, respectively. The president is pleased with the following performance report: P. (Click the icon to view the performance report.) Actual output was 10,200 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.) Flexible Actual Results Flexible-Budget Variance Sales-Volume Variance Static Budget Budget Output units Direct materials Direct manufacturing labor Direct marketing labor Total direct costs Is the president's pleasure justified? The existing performance report is a analysis, based on a static budget. It makes V for changes in output levels. total direct cost variance of The flexible-budget The existing performance report shows a variance shows each direct cost category to have a(n) cost item than was budgeted, or the use of efficient use of each direct variance indicating direct cost items than was budgeted, or both. The revised performance report reveals that this variance is due to the v in output units from the amount budgeted. The president should analyze the for each cost category to assist in identifying the causes. Data Table Variance Direct materials Choose from any list or enter any nun Actual Costs Static Budget $ 421,700 $ 459,200 87,600 89,600 $37,500 F 2,000 F Save for Later Direct manufacturing labor Direct marketing (distribution) labor 112,700 123,200 10,500 F