Treanor Company's prices for direct materials, direct manufacturing labour, and direct marketing (distribution) labour per leather attach cases are $41, $6.00, and $13.20, respectively. The CEO is pleased with the following performance report: (Click the icon to view the performance report.) Actual output was 10,200 attach cases. Assume that all three direct cost items above are variable costs. Is the CEO's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Is the CEO's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Begin with the actual results, and then complete the flexible budget columns and the static budget columns. Label each variance as favourable or unfavourable. (For variances with a $0 balance, make sure to enter "O" in the appropriate field. If the variance is zero, do not select a label.) Actual results Output units Direct materials Direct manufacturing labour Direct marketing labour Total direct cost i Peformance report -X Variance $ Direct materials Direct manufacturing labour Direct marketing (distribution) labour Actual costs Static budget $ 445,740 $ 455,100 63,648 66,600 136,680 146,520 9,360 F 2,952 F 9,840 F Print Done