Exercise 22-12 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 $50,000 in the Fabricating Department and $40,000 in the Assembling Department. 2. At normal capacity of 50,000 direct labor hours, the line drawn from the total budgeted cost line intersects the vertical axis at $150,000 in the Fabricating Department, and $120,000 in the Assembling Department. Your answer is partially correct. Try again. State the total budgeted cost formula for each department. (Round cost per direct labor hour to 2 declmal places, e.g. 1.25.) Fabricating Department sooooFixed Cost--total vanano cases ire 100,000 . per direct labor hou 100,000 per direct labor hour + total Variable Costs Assembling Department 4000011, Fixed Costs Variable Costs+ 80000 + total per direct labor hour