Exercise 11-32 Construct a Flexible Overhead Budget; Hospital (LO 11-1, 11-2) The controller for Rainbow Children's Hospital, located in Munich, Germany, estimates that the hospital uses 26 kilowatt-hours of electricity per patient-day, and that the electric rate will be 14 per kilowatt-hour. The hospital also pays a fixed monthly charge of 2,100 to the electric utility to rent emergency backup electric generators." "The European monetary unit , the euro, is used by most European countries. Required: Construct a flexible budget for the hospital's electricity costs using each of the following techniques 1. Formula flexible budget. (Round per unit rate to 2 decimal places.) Total budgeted monthly overhead cost - Budgeted variable overhead cost per activity unit Total activity + units Bugeted fixed overhead cost per month x patient days 2. Columnar flexible budget for 31,000, 41,000, and 51,000 patient days of activity Patient Days 31,000 41,000 $1,000 Variable electricity cost Fixed electricity cost Total electricity cost