Multiple Product Performance Report Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model: Cost Components Deluxe Regular Direct materials 2 board feet $3 = $6.00 3 board feet x $3 = $9.00 = 1 hour * $4= 2.00 4.00 = 2.00 1 labor hr. * $2 = 1.25 hours * $4= 2.00 1.25 labor hrs. * $2 = $14.00 5.00 2.50 $18.50 Lumber Assembly kit Direct labor Variable overhead Total Budgeted fixed manufacturing overhead is $13,000 per month. During July, the company produced 5,000 regular and 2,000 deluxe storage cases while incurring the following manufacturing costs: Direct materials $70,000 31,000 Direct labor Variable overhead 11,500 Fixed overhead Total 15,500 $128,000 Prepare a flexible budget performance report for the July manufacturing activities. Actual Flexible Budget Flexible Budget Variance Volume Regular 0 0 Deluxe 0 Variable costs Direct materials Lumber Regular Deluxe $ 0 0 Assembly kits Regular 0 Deluxe Total $ 0 0 Direct labor Regular Deluxe 0 Total 0 0 Variable overhead Regular 0 Deluxe 0 Total 0 0 0 Fixed overhead 0 0 0 Total S 0 $ 0 s 0