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 40 kilowatt-hours of electricity per patient-day, and that the electric rate will be .28 per kilowatt-hour. The hospital also pays a fixed monthly charge of 3,500 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 Budgeted variable Bugeted fixed Total activity overhead cost monthlyoverhead cost per x units activity unit overhead cost per month x patient days+ 2. Columnar flexible budget for 45,000, 55,000, and 65,000 patient-days of activity Patient Days 55,000 65,000 45,000 Variable electricity cost Fixed electricity cost Total electricity cost