Johnson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) tabor per attach case are $44,57 and 511, respectively. The president is pleased with the following performance report Click the icon to view the performance report) 8,800 Actual output was Requirement is the president's pleasure Data table Prepare a revised perform static budget columns Lad Variance is zero, do not sol Actual Costs Static Budget $ 405,500 $ 440,000 68.400 70,000 101,000 110,000 Variance $34,500 F Direct materials Direct manufacturing labor Direct marketing (distribution) labor budget columns and the o appropriate field. If the 1,600 F 9,000 F Print Done Output units Direct materials Direct manufacturing labo Direct marketing labor Total direct costs Johnson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labot per attach case are $44, S7, and 511 respectively. The president is pleased with the following performance report Click the icon to view the performance report) Actual output was 8,800 attach cases. Assume all three direct-cost items above are variable costs. Requirement Is the president's pleasure justified? Propare a revised performance report that uses a flexible budget and a static budget CEECE 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 "o" in the appropriate field. If the variance is zero, do not select a label) Actual Results Output units Direct materials Direct manufacturing labor Direct marketing labor Total direct costs