Flexible Budget for Various Levels of Activity Cenium Inc. produces a variety of household cleaning products, Cerium's controller has developed standard costs for the following four overhead items: Next year, Cerium expects production to require 58,000 direct labor hours. Required: 1. Prepare an overhead budget for the expected level of direct labor hours for the coming year: Fixed costs: Maintenance Indirect labor Pent Total fixed costs Total overhead costs 2. Prepare an overhead budget that reflects production that is 15% higher than expected and for production that is 15% lower than expected. Activity Level Activity Level Rate per Hour Hours Hours Variable costs: Maintenance Power Indirect labor Total virnable costs Foxed costs: Mantenance Indirect tabor Rent 2. Prepare an overhead budget that reflects production that is 15% higher than expected and for production that is 15% lower than expected