The budgeted prices for materials and direct labor per unit of finished product are S8 and S7, respectively. The production manager is delighted about the following data EEB (Click the icon to view the data.) Requirement Is the manager's happiness justified? Prepare a report that might provide a more detailed explanation of why the static budget was not achieved. Good output was 5,300 units. (Enter all amounts as positive numbers. For variances with a zero balance, make sure to enter "O in the appropriate field. If the variance is zero, do not select a label.) Actual Results at Actual Prices Flexible- Budget Variances Sales- Activity Variances Flexible Static Budget Budget Data Table Physical units Direct materials Direct labor Total Static Budget Actual Costs Variance 59,200 $ 51,800 Direct materials 49,900 $ 9,300 F Direct labor 39,200 12,600 F Is the manager's happiness justified? The manager's delight is The manager Print Done