Exercise 10-12 Venetian Company has two production departments, Fabricating and Assembling. At a department managers' meeting, the controller uses flexible budget graphs to explain total budgeted costs. Separate graphs based on direct labor hours are used for each department. The graphs show the following 1. At zero direct labor hours, the total budgeted cost line and the fixed cost line intersect the vertical axis at $54,000 in the Fabricating Department and $44,000 in the Assembling Department. 2. At normal capacity of 52,500 direct labor hours, the line drawn from the total budgeted cost line intersects the vertical axis at $185,250 in the Fabricating Department, and $143,750 in the Assembling Department. State the total budgeted cost formula for each department. (Round cost per direct labor hour to 2 decimal places, e.g. 1.25.) Fabricating Department -,s Assembling Dnts +total of $ per direct labor hour +total of $ per direct labor hour LINK TO TEXT Compute the total budgeted cost for each department, assuming actual direct labor hours worked were 55,500 and 49,500, in the Fabricating and Assembling Departments, respectively. Fabricating Department Assembling Department The total budgeted cost Click if you would like to Show Work for this question: Open Show Work