Please do not give solution in image format thanku Complete this question by entering your answers in the tabs below.Required A Required BCalculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" forfor no effect (i.e., zero variance).)Direct materialsDirect laborVariable manufacturing overheadTotal variable costsFixed manufacturing overheadTotal manufacturing costsRequired A Required BVariancesComplete this question by entering your answers in the tabs below.Production in unitsDirect materialsDirect laborVariable manufacturing overheadTotal variable costsFixed manufacturing overheadTotal manufacturing costs< Required AConvert the static budget into a flexible budget. (Do not round intermediate calculations.)Flexible Budget$$34,700 Kits0Required B >0< Required ARequired B > Exercise 15-10A (Algo) Evaluating a cost center including flexiblebudgeting concepts LO 15-3, 15-4, 15-5Finch Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is theproduction manager. The production department's static budget and actual results for Year 3follow:Production in unitsDirect materialsDirect laborVariable manufacturing overheadTotal variable costs.Fixed manufacturing overheadTotal manufacturing costStatic Budget33,000 kits$244,200211,20049,500Required A Required B504,900208,000$712,900Requireda. Convert the static budget into a flexible budget.b. Calculate the variances.ActualResults34,700 kits$295,580214,68055, 150565,410202,700$768, 110Complete this question by entering your answers in the tabs below.

SOLUTION - (a) Convert the static budget into a flexible budget. (Do not round intermediate…

Complete this question by entering your answers in the tabs below. Required A Required B Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for for no effect (i.e., zero variance).) Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Variances