Thornton 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 Actual Results 29,000 hits 31,900 kits 5200, 100 $257,110 171,100 181,010 43,500 51,450 414,700 489,570 216,000 211.000 5630,700 5700,570 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 ro Flexible Budget Kits Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs $ 0 Fixed manufacturing overhead Total manufacturing costs $ 0 Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting "F" f for no effect (i.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs