Munoz Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow. Required a. Convert the static budget into a flexible budget: b. Calculate the variances. Complete this question by entering your answers in the tabs below. Calculate the variances. (Indicate the effect of each variance by selecting "F* for favorable, " U " for unfovorable, and "None" for no effect (i.e., zero variance).) Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)