Exercise 25-04 a-b Crane 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 $1.30 0.90 0.40 Fixed overhead costs per month are Supervision $4,300, Depreciation $1,900, and Property Taxes $500. The company believes it will normally operate in a range of 6,400-9,400 direct labor hours per month Assume that in July 2020, Crane Company incurs the following manufacturing overhead costs Variable Costs Fixed Costs Indirect labor Indirect materials Utilities $4,300 1,900 500 $10,670 Supervision 7,450 Depreciation 2,950 Property taxes (a) Prepare a flexible budget performance report, assuming that the company worked 8,400 direct labor hours during the month. (List variable costs before fixed costs.) Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs