Bhaluka Lad has developed the following cost formulas for the company's Machining Department These costs are based on a normal operating range of 10,000 to 20.000 machine-hours per month Overheast Cust Utilities Cost Furmala Tk 0.70 per machine-hour Lubricants---Tk 1.00 per machine-hour plus Tk 8,000 per month Machine setup Tk 0.20 per machine-hour Indirect labor Tk 0.50 per machine-hour plus Tk 120.000 per month Depreciation TK 32,000 per month During March 2017, the first month aller the preparation of the above data, the Machining Department worked 18.000 machine-hours and produced 9,000 units of product. The actual manufacturing overhead casts of this production were as follows Utilities Lubricants Tk 12:000 Tk24.500 TL4,800 Machine setup Indirect labor Depreciation TL 132.500 TK 32.000 Total mamafacturing overhead costs T205.800 Fixed costs had no budget variances The department had orginally been budgeted to work 20.000 machine-hours during March 2017 Prepare a flexible budget for the Machining Department and an overhead performance report for the Machning Department for March 2017