E23-3 Prepare flexible manufacturing overhead budget Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. 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 7,00010,000 direct labor hours per month. Instructions Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,000 direct labor hours. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "? After you have completed E23-3 consider the following additional question. 1. Assume that the variable manufacturing overhead costs for indirect labor and indirect materials changed to $1.25 and $0.80 respectively. Revise the monthly manufacturing overhead flexible budget, using increments of 1,000 direct labor hours