Fulham Corporation is budgeting its expenses based on the number of direct labor hours worked. They prepared the following budget report for calendar-year 2021 under the assumption they would utilize 150,000 direct labor hours during the year. Variable costs: Supplies Utilities Maintenance $ 126,000 420,000 190,500 Fixed costs: Insurance $ 84,000 Rent 360,000 In the second quarter, Fulham incurred these actual expenses, having worked 40,000 direct labor hours: Supplies $ 35,000 Utilities 103,000 Maintenance 49,000 Insurance 21,000 Rent 92,000 Prepare a flexible budget report for the second quarter comparing their actual costs with flexible budget data for the quantity of hours worked. In your budget report, show the favorable/unfavorable difference for each expense line and in total. Assume that all fixed costs are incurred evenly throughout the year. Submit your solution including the total costs for Budget, Actual, and Differences, showing your calculations, in Pilot by Friday, July 23, 11:59 PM