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 units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Statie Budget 32,000 hits $284,500 172,800 48.000 425,600 211,000 $636,600 Actual Results 34,500 kits $258,000 179,100 54,850 491,950 205,100 $697,050 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 Flexible Budget 34,500 Kits Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Required A Required B Calculate the variances. (Indicate the effect of each variance by sele for no effect (i.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs