Flexible Budget Cost Formula to calculate Manufacturing Overhead Emory Company as follow. Cost Formula relevant for range 15.000 to 20.000 machine hours annually. Overhead Cost Cost Formula Utilities $0.30 per machine hours Indirect Labor $52.000 plus $1.40 machine hours Supplies $0.20 per machine hours Maintenance $18.000 plus $0.10 per machine hours Depreciation $90.000 Required: Make flexible budget for increment 5.000 machine hours Calculate all expenses into your budget