ASAP

Milo Clothing Company produces men's ties since 1995. In order to reasonably plan and closely control their manufacturing costs, they use the budgeting system. The following budgeted and actual amounts are released to top management for 2020 and they asked you, a cost accountant, to prepare a performance budget report so that they can analyze all type of variances including both favourable and unfavourable. Cost Budget at 4,000 Units Actual Amounts at 4,500 Units Direct materials $185,000 $188,000 Direct labour 226,000 250,000 Equipment depreciation 6,000 6,000 Indirect labour 22,000 25,000 Indirect materials 16,000 14,000 35,000 Rent and insurance 35,000 Prepare a flexible budget report for Milo Clothing Company for the year and then answer the following question What is the Flexible Budget for Direct Materials