Sheridan Company produced 240000 units in 110000 direct labor hours. Production for the period was estimated at 250000 units and 125000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at

120000 hours and 125000 hours. 125000 hours and 110000 hours. 120000 hours and 110000 hours. 110000 hours and 110000 hours.