Problem: (4 points) My Petite Pony Company uses budgets to help control their costs. The March 2020 static budget report for the company's assembly department shows: My Petite Pony Actual Versus Static Budget Variance Report Assembly Department For the Month Ended March 31, 2020 Budget Actual Variance Favorable -F Unfavorable -U 5,000 F 55,000 Units produced Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Total variable costs 40,000 45,000 15,000 12,500 17,500 130,000 41,000 47,300 15,200 13,000 17,600 134,100 1,000 2,300 200 500 100 4,100 U U U U U U Fixed costs Rent Supervision Depreciation Total fixed costs Total costs 10,000 7,000 4,000 21,000 151,000 10,000 7,000 4,000 21,000 155,100 $ $ 4,100 U Required: Prepare a flexible budget variance report for the company for March 2020. My Petite Pony Actuals Versus Flexible Budget Variance Report Assembly Department For the Month Ended March 31, 2020 Variance Favorable -F Budget Actual Unfavorable-U Units produced Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Total variable costs Fixed costs Rent Supervision Total fixed costs Total costs