Flexible Budget Application The polishing department of Taylor Manufacturing Company operated during April 2016 with the following manufacturing overhead cost budget based on 5,000 hours of monthly productive capacity: Taylor Manufacturing Company Polishing Department Overhead Budget (5,000 Hours) For the Month of April 2016 Variable costs: Factory supplies $100,000 Indirect labor 152,000 Utilities 68,000 Patent royalties on secret process 296,000 Total variable overhead Fixed costs: Supervisory salaries 160,000 Depreciation on factory equipment 144,000 Factory taxes 48,000 Factory insurance 32,000 Utilities (base charge) 80,000 Total fixed overhead Total manufacturing overhead $616,000 464,000 $1,080,000 The polishing department was operated for 4,800 hours during April and incurred the following manufacturing overhead costs: Factory supplies $97,620 Indirect labor 136,260 Utilities (usage factor) 82,800 Utilities (base factor) 96,000 Patent royalties 285,166 Supervisory salaries 170,000 Depreciation on factory equipment 144,000 Factory taxes 58,000 Factory insurance 32,000 Total manufacturing overhead incurred $1,101,846 Using a flexible budgeting approach, prepare a performance report for the polishing department for April 2016, comparing actual overhead costs with budgeted overhead costs for 4,800 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 number, if applicable. Select either U for Unfavorable or F for Favorable using the drop down box next to each of your variance answers. Taylor Manufacturing Company Polishing Department Performance Report - Manufacturing Overhead For the Month Ended April 30, 2016 Actual Costs Budget (4,800 hours) Variances Variable costs: Factory supplies $ OS OU Indirect labor OU Utilities OU Patent royalties OU Total variable overhead Fixed costs: Supervisory salaries OU Depreciation on equipment Factory taxes OU Factory insurance Utilities Total fixed overhead 0 0 0 0 0