c. What would be the likely result of management's analysis of the report? E23.3 (LO 2), AP Myers Company uses a flexible budget for manufacturing overhead based on direct Prepare flexible man labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. overhead budget. Indirect labor $1.00 Excel Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are supervision $4,000, depreciation $1,200, and property taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Instructions Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 1.000 direct labor hours