Waterway Industries produced 224000 units in 134000 direct labor hours. Production for the period was estimated at 201000 units and 111000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at 111000 hours and 134000 hours. 111000 hours and 134000 hours. 111000 hours and 111000 hours. 134000 hours and 134000 hours