Problem 1 Jacmel Jewels is a small business owned by Fabiola Banatte who creates art objects with sea themes. She sells the art objects through a local art gallery. Fabiola used the following data to prepare a master budget for March: Budget data: Sales (units) 155 u Selling price per unit 89.00 $/u Direct material cost per unit 13.40 $/u Direct labor cost per unit 48.00 $/u Commission to art gallery-cost per unit 8.90 $/u Fixed costs (total) 1.100 $ As it turns out, Fabiola was able to make and sell 160 art objects in March. Jacmel Jewels's actual results of operations for March are as follows: Sales revenue Direct materials Direct labor Commission to art gallery Fixed costs 13,950 $ 2,080 $ 7,780 $ 1,367 $ 985 $ REQUIRED: Prepare a flexible budget for the production and sale of 160 art objects in March. (Include columns for Flexible, Actual, Variance, and U or F.)