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Part 6 (Chapter 24) Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and overhead costs for March Waterways Corporation Manufacturing Overhead Budget (Static) For the Month of March Waterways Corporation Manufacturing Overhead Costs (Actual) For the Month of March Production in units 118,500 Budgeted production in units Budgeted costs 500 Costs Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial $ 7,050 11,750 10,575 5,875 42,000 16,800 2,500 1,200 1300 Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial 7,100 11,825 10,700 5,900 42,000 16,800 2,500 1,200 1300 Total budgeted costs Waterways produced 118,500 units in March rather than the budgeted number of units Instructions 1. Use Excel Worksheet 6-1 to prepare a flexible overhead budget based on producing the following amounts Total costs a. 115,000 units b. 116,000 units c. 117,000 units d. 118,000 units e. 119,000 units 2. Use Excel Worksheet 6-2 to prepare a Flexible Budget Report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March. (Worksheet 6-2) 3. Use Excel Worksheet 6-3 to prepare a Manufacturing Overhead Responsibility Report for March, assuming only variable costs are controllable