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Homework: Chapter 7 Homework Save Score: 0.35 of 3 pts 5 of 37 (19 complete) HW Score: 40.78%, 18.35 of 45 pts x E7-22 (similar to) Question Help Johnson Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $41, $10, and $15, respectively. The president is pleased with the following performance report: B (Click the icon to view the performance report.) Actual output was 10,400 attach cases. Assume all three direct-cost items above are variable costs. Requirement Is the president's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Prepare a revised performance report that uses a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter"0" in the appropriate field. If the variance is zero, do not select a label.) Actual Flexible-Budget Variance 0 Flexible Budget Results 10,400 Data Table Output units Direct materials $ 432.400 13100 Direct manufacturing labor 111,400 161,500 Direct materials Direct marketing labor Actual Costs Static Budget $ 432,400 $ 467,400 111,400 114,000 161,500 171,000 Variance $35,000 F 2,600 F $ 705,300 Total direct costs Direct manufacturing labor Direct marketing (distribution) labor 9.500 F Print Done Choose from any list or enter any number in the input fields and then click Check