3 of 6 View Policies < > Current Attempt in Progress 14 Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours, Variable manufacturing overhead costs per direct labor hour are as follows Indirect labor $100 Indirect materials 0.50 0.30 Utilities Fixed overhead costs per month are Supervision $3,500, Depreciation $1.000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month Assume that in July 2020. Myers Company incurs the following manufacturing overhead costs Variable Costs Fixed Costs Indirect labor $7,300 Supervision Indirect materials 3650 Depreciation $3,500 1000 Utilities 1850 Property taxes 500 (a) Prepare a flexible budget performance report, assuming that the company worked 7.500 direct labor hours during the months (al Prepare a fleeble budget performance report, assuming that the company worked 7,500 direct labor hours during the month variable costs before fed costs) F Direct Labor our Vrtable C indirectLabor Budget 7500 MYERS COMPANY Hanufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Actual Costs 7500 Diff Fax Unde Neither nor Un 7500 7300 $ 200 Indirac Matera 3090 2650 U 2250 1050 300 400 Total Vatable C 13500 12000 700 Serv 2500 2800 (b) Prepare a flexible budget performance report, assuming that the company worked 7.000 direct labor hours during the month, List variable costs before fond costs) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Actual Costs Budget Diff Fay Unfa Neither nor Un Budget Actual Costs > Ta Unde Heither nor the > > Budget Actual Costs Favorable Unfavorable Neither Favorable nor Unfavorable