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Mini-Exercise 15-2 (Static) Flexible budget and performance reporting LO 3, 4 Acme Company's production budget for August is 17,500 units and includes the following component unit costs: direct materials, $8; direct labor, $10; variable overhead, $6. Budgeted fixed overhead is $35,000. Actual production in August was 17,000 units. Actual unit component costs incurred during August include direct materials, $8.25; direct labor, $9.45; variable overhead, \$6.82. Actual fixed overhead was $33,500. Required: Prepare a performance report, including each cost component. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) \begin{tabular}{|l|c|c|c|c|c|} \hline \multicolumn{1}{|c|}{} & Original Budget & Flexed Budget & Actual Cost & Budget Variance \\ \hline \multicolumn{1}{|c|}{ Cost Component } & (17,500 units & (17,000 units ) & (17,000 units) & \\ \hline Direct materials & & & & & \\ \hline Direct labor & & & & & \\ \hline Variable overhead & & & & & \\ \hline Fixed overhead & & & & & \\ \hline Total budgeted cost & & & & & \\ \hline \end{tabular}