E25.3 (LO 2) 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. Indirect labor $1.00 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 2020 for the expected range of activity, using increments of 1,000 direct labor hours. E25.4 (LO 2) Writing Using the information in E25.3, assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor Supervision Indirect materials 5,800 Depreciation Utilities 3,200 Property taxes 800 Instructions a. Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. b . Prepare a flexible budget performance report, assuming that the company worked 8.500 direct labor WWW hours during the month. c. Comment on your findings. Pre W