Flexible overhead budget Wiki Wiki Company has determined that the variable overhead rate is $2.50 per direct labor hour in the Fabrication Department. The normal production capacity for the Fabrication Department is 16,000 hours for the month. Fixed costs are budgeted at $56,000 for the month. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. Prepare a monthly factory overhead flexible budget for 15,000, 16,000, and 17,000 hours of production. 17,000 Wiki Wiki Company Monthly Factory Overhead Cost Budget - Fabrication Department Direct labor hours 15,000 16,000 Variable factory overhead cost Fixed factory overhead cost Total factory overhead cost b. How much overhead would be applied to production if 15,000 hours were used in the department during the month? Round your answer to the nearest dollar