Question 7-22. (Do not use dollar signs. Use commas to separate thousands. Positive numbers are favorable and negative numbers using a minus sign means unfavorable)

For the first part, include your comment on the excel file below IN A SEPARATE TAB called: Comments

For the second part, please upload an excel file with the revised performance report that uses a flexible budget compared to actual results.

7-22. FLEXIBLE BUDGET.Bryant Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $43, $6, and $13, respectively. The president is pleased with the following performance report:

	Actual Costs	Static Budget	Variance
Direct materials	$438,000	$473,000	$35,000 F
Direct manufacturing labor	63,600	66,000	2,400 F
Direct marketing (distribution) labor	133,500	143,000	9,500 F

Actual output was 10,000 attach cases. Assume all three direct-cost items shown are variable costs.

Required

Is the president's pleasure justified? Make a revised performance report that uses a flexible budget and actual results.