Flexible Budget Application The cutting department of Liberty Manufacturing Company operated during September 2019 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity Liberty Manufacturing Company Cutting Department Overhead Budget (5,000 Hours) For the Month of September 2019 Variable costs: Factory supplies $48.000 Indirect labor 72,000 Utilities (usage charge) 36.000 Patent royalties on secret process 144,000 Total variable overhead Fixed costs: Supervisory salaries 96.000 Depreciation on factory equipment 140,000 Factory taxes 40.000 Factory insurance 24,000 Utilities (base charge) 32.000 Total foed overhead Total manufacturing overhead Thetidan amantgrate orason home The cutting department was operated for 4,500 hours during September and incurred the following manufacturing overhead costs: Factory supplies $40,400 Indirect labor 67,200 Utilities (usage factor) 38,100 Utilities (base factor) 32,000 Patent royalties 134,000 Supervisory salaries 95.000 Depreciation on factory equipment 140,000 Factory taxes 43,400 Factory insurance 27.000 Total manufacturing overhead incurred 5618,100 Using a flexible budgeting approach, prepare a performance report for the cutting department for September 2019, comparing actual overhead costs with budgeted overhead costs for 4,500 hours. Separate overhead costs into variable and fixed components and show the amounts of any variances between actual and budgeted amounts. Do not use negative signs with your answers below: Do not round until your final answer. Round answers to nearest whole numb Select either U for Unfavorable or F for Favorable using the drop down box next to ea Ich of your variance answers. > > Liberty Manufacturing Company Cutting Department Performance Report - Manufacturing Overhead For the Month Ended September 30, 2019 Budget Actual Costs (4,500 hours) Variances Wariable costs: Factory supplies 40,400 $ Indirect labor 67,200 Utilities 38,100 Patent royalties 134,000 Total variable overhead 279,700 Fixed costs: Supervisory salaries O Depreciation on equipment Factory taxes 0x U Factory insurance oxu 0 Utilities Total fixed overhead Total overhead costs O O OOO > > > X X OOOO X X X X X ooooooo X X X X 09 03