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Jordan Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production...

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Accounting

Jordan Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production departments static budget and actual results for Year 3 follow.
Static Budget Actual Results
Production in units 35,000 kits 36,300 kits
Direct materials $ 241,500 $ 287,770
Direct labor 206,500207,170
Variable manufacturing overhead 52,50057,750
Total variable costs 500,500552,690
Fixed manufacturing overhead 207,000202,900
Total manufacturing cost $ 707,500 $ 755,590
Required
a. Convert the static budget into a flexible budget.
b. Calculate the variances.

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