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Question: Crosby Inc. ("the company') is a manufacturer of hockey nets in Ontario, The upcoming year is expected to be a good one but management wants to do some scenario planning and see what the financial results would look like under different production levels. The company has budgeted the following costs for one hockey net: Materials 6 metres of netting @ $1.50 per metre Labour 5.75 hours of direct labour @ $18.00 per hour Variable overhead 5.75 hours of direct labour @ $3.00 per hour Fixed overhead is estimated at $32,000 per year. Required: Prepare a flexible budget for the year for two levels of production: 5,500 and 6,000 units. Using your solution answer the following questions. Part A: nduced 5 500 units, total production costs per the flexible budget Part A: If the company produced 5,500 units, total production costs per the flexible budget would be $. Round your answer to the nearest DOLLAR. For example: Enter $49,562.52 as 49563 Enter $49,562.42 as 49562 Enter $49,562.00 as 49562 If the company produced 5,500 units, the cost PER UNIT would be $ Round your answer to the nearest PENNY (2 decimal places). For example: Enter 28.8429 as 28.84 Enter 28.8452 as 28.85 Enter 28.0000 as 28.00 Part B: If the company produced 6,000 units, total production costs per the flexible budget would be $ 'Round your answer to the nearest DOLLAR Round your answer to the nearest DOLLAR. For example: Enter $49,562.52 as 49563 Enter $49,562.42 as 49562 Enter $49,562.00 as 49562 A/ If the company produced 6,000 units, the cost PER UNIT would be $ Round your answer to the nearest PENNY (2 decimal places). For example: Enter 28.8429 as 28.84 Enter 28.8452 as 28.85 Enter 28.0000 as 28.00 Question 7 (1 point) A flexible budget variance is considered to be a) the difference between the flexible budget and the master (static) budget. b) the difference between actual results and the master (static) budget. c) the difference between a benchmark amount and the actual results. d) the difference between the total budgeted amount and the total standard amount. Oe) the difference between the actual results and the flexible budget