Manila Company manufactures ceramic vases. To complete a vase, Manila requires the following input: Direct material standard 5 pounds at $ 1.50 pound Direct labor standard hours at $ 6.40 per hour Budgeted fixed cost per quarter is $ 33,000 .Budgeted selling price $ 32.10 During the year of 2019 the company budgeted to produce and sell $ 2,200 vases. 0.5 2,090 33.71 $ Actual information for 2019 is provided below: Number of vases made and sold Selling price Direct materials used in production Direct labor used in production Total cost of DM used $ Total cost of direct labor $ Fixed cost incurred $ 10,032 pounds 993 hours 18,810 8,026 31,350 Requirements Assuming that direct labor and direct materials are the only variable costs in the company: 1 Prepare a static budget for 2019. 2 Prepare a flexible budget for 2019