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 7,500 Production runs 16 New products tested 40 Direct material handled (pounds) 40, 090 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). * Answer is not complete. 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 27,500 b. Utilities 5,000 C. Inspection 4,400 d. Test kitchen 2,400 e. Material handling 4,000 Total overhead cost 54,400