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Gibson Medical Equipment Company makes a blood pressur. y kit. Jason McCoy is the productio department's static budget and actual results for Year 3 follow: Required a. Convert the static budget into a flexibie budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Convert the static budget into a flexible budget. (Do not round intermediate calculations.) 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 unfavorable, and "None" for no effect (1.e., zero variance).)