Exercise 23-12 a-b 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 46,900 direct labor hours, the line drawn from the total budgeted cost line intersects the vertical axis at $171,940 in the Fabricating Department, and $105,660 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 decimal places, e.g. 1.25.) Fabricating Department = 50000 Fixed Costs Variable Costs total of $ per direct labor hour x Assembling Department = 40000 Fixed Costs Variable Costs total of $ per direct labor hour LINK TO TEXT x Your answer is incorrect. Try again. Compute the total budgeted cost for each department, assuming actual direct labor hours worked were 49,900 and 43,900, in the Fabricating and Assembling Departments, respectively. Fabricating Department Assembling Department The total budgeted cost Exercise 23-12 c (Essay) 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. 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. 2. Prepare the flexible budget graph for the Fabricating Department, assuming the maximum direct labor hours in the relevant range is 100,000. Use increments of 10,000 direct labor hours on the horizontal axis and increments of $50,000 on the vertical axis