Solomon 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 unit Direct materials Direct labor Variable manufacturing overhead Total variable costs Elxed manufacturing overhead Total manufacturing cost Static Budget 24 000 ME $180,000 156,000 36.000 372,000 212,000 5584,000 Actual Iesults 25,800 Ks $232,400 160, 800 42,300 435,500 200.000 $642,400 Required a. Convert the static budget into a flexble budget. b. Calculate the variances Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Flexible Budget Kits Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs $ 0 $ 0 Calculate the variances. (Indicate the effect of each variance by selecting "Fifor favorable Ufor unfavorable, and "None for no effectie, zero variance) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs