Morton Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Morton allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Read the requirements Flexible Budget Budget Amounts per Unit Actual Units (Recliners) 980 Sales Revenue 505 494900 Variable Manufacturing Costs: Direct Materials 51.60 50568 Direct Labor 102 Variable Overhead Fixed Manufacturing Costs Fixed Overhead Total Cost of Goods Sold Gross Profit Data table $ Static Budget Actual Results (1,000 recliners) (980 recliners) 505,000 $ 470,400 51,600 51,601 Sales (1,000 recliners x $505 each) (980 recliners x $480 each) Variable Manufacturing Costs: Direct Materials (6,000 yds @ $8.60 / yd.) (6,143 yds @ $8.40 / yd.) Direct Labor (10,000 DLHr @ $10.20 / DLHr) (9,600 DLHr @ $10.30 / DLHr) Variable Overhead (6,000 yds @ $5.20 / yd.) (6,143 yds @ $6.60 / yd.) Fixed Manufacturing Costs: Fixed Overhead 102,000 98,880 31,200 40,544 60,600 62,600 253,625 Total Cost of Goods Sold 245,400 259,600 $ $ $ Gross Profit 216,775