Exercise 22-4 Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.10 0.50 0.40 Fixed overhead costs per month are Supervision $3,900, Depreciation $1,100, and Property Taxes $700. The company believes it will normally operate in a range of 5,900-9,800 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor Indirect materials Utilities $9,050 4,070 2,990 Fixed Costs Supervision Depreciation Property taxes $3,900 1,100 700 (a) Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable (a) Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable (b) Prepare a flexible budget performance report, assuming that the company worked 7,800 direct labor hours during the month. (List variable costs before fixed costs.) (b) Prepare a flexible budget performance report, assuming that the company worked 7,800 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMTI AR FXFRCISE VIDEO: APPITED SKILLS