Exercise 11-31 Activity-Based Flexible Budget (LO 11-2, 11-7) Refer to DCdesserts.com's activity-based flexible budget in Exhibit 11-11 Suppose that the company's activity in June is described as follows: Process hours Production runs New products tested Direct material handled (pounds) 7,500 16 40 40,000 Required: 1. Determine the flexible budgeted cost for each item in the table below. 2-a. Compute the variance for setup cost during the month, assuming that the actual setup cost was $3,000. Use the activity-based flexible budget. 2-b. Compute the variance for setup cost during the month, assuming that the actual setup cost was $3,000. Use DCdesserts.com's conventional flexible budget (Exhibit 11-3). Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Determine the flexible budgeted cost for each item in the table below. a. Indirect material b. Utilities c. Inspection d. Test kitchen e. Material handling f. Total overhead cost < Req 1 Req 2A Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute the variance for setup cost during the month, assuming that the actual setup cost was $3,000. Use the activity- based flexible budget. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Variance < Req 1 Req 2B > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Compute the variance for setup cost during the month, assuming that the actual setup cost was $3,000. Use DCdesserts.com's conventional flexible budget. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Variance < Req 2A Req 2B >