Rooney Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget 22,000 kits 3165,000 143,000 33,000 341,000 213,000 3554,000 Actual Results 24,600 kits 5222,600 153, 400 30, 600 470, 600 200.000 $625, 200 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Required A Required B Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Flexible Budget Production in units Kits Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable for no effect (i.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs