Walton 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: Direct materials Production in units Direct labor Total variable costs Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost Actual Static Budget 28,000 kits Results 30,500 kits $212,800 184,800 $270,300 194,500 42,000 48,250 439,600 513,050 204,000 199,100 $643,600 $712,150 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