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 Regular Deluxe Direct materials Lumber 2 board feet x $ 4 = $ 8.00 3 board feet x $ 4 = $ 12.00 Assembly kit = 2.00 = 2.00 Direct labor 1 hour x $ 4 = 4.00 1.25 hours x $ 4 = 5.00 Variable overhead 1 labor hr. x $ 2 = 2.00 1.25 labor hrs. x $ 2 = 2.50 Total $ 16.00 $ 21.50 Budgeted fixed manufacturing overhead is $12,000 per month. During July, the company produced 5,000 regular and 3,000 deluxe storage cases while incurring the following manufacturing costs: Direct materials $ 99,000 Direct labor 36,000 Variable overhead 14,000 Fixed overhead 15,500 Total $ 164,500 Prepare a flexible budget performance report for the July manufacturing activities. Actual Flexible Budget Flexible Budget Variance Volume Regular Answer Answer Deluxe Answer Answer Variable Costs Direct materials Lumber Regular $Answer Deluxe Answer Assembly kits Regular Answer Deluxe Answer Total $Answer Answer Answer Answer Direct labor Regular Answer Deluxe Answer Total Answer Answer Answer Answer Variable overhead Regular Answer Deluxe Answer Total Answer Answer Answer Answer Fixed overhead Answer Answer Answer Answer Total $Answer $Answer $Answer Answer