PROBLEM Rooney Company provided the following information needed for the preparation of its static and flexible budget reports during January, 2022. Direct labor rate per direct labor hour Actual direct labor cost, January Expected direct labor hours per month Actual direct labor hours, January $ 20.00 $ 206,000 10,000 10,400 Prepare the following budget reports for January 2022 using Excels' IF function, and evaluate the usefulness of each report. a. A static budget report b. A flexible budget report