3. Prepare a flexible budget for overhead expenses on the basis of the following data and determine the overhead rates at 70%, 80% and 90 % plant capacity. Draw up a flexible budget for overhead expenses on the basis of the following data and determine the overhead rates at 70%, 80% and 90% plant capacity. Variable Overheads: Indirect labour Stores including spares Semi-variable Overheads : Power (30% fixed, 70% variable) Repairs and maintenance (60 % fixed. 40% variable) Fixed Overheads : Depreciation Insurance Salaries Total Overheads Estimated direct labour hours At 80% Capacity RO 12,000 4,000 20,000 2,000 11,000 3,000 10,000 62,000 1,24,000 hrs.