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: Actual Results Static Budget Production in units 32,300 kits 30,000 kits $240,000 Direct materials Direct labor $297,100 210,000 219,900 Variable manufacturing overhead 45,000 50,450 Total variable costs 495,000 567,450 Fixed manufacturing overhead 211,000 205,100 Total manufacturing cost $706,000 $772,550 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B Convert the static budget into a flexible budget. (Do not round Intermediate calculations.) Flexible Budget Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Required B > Kits Required A