Ivanhoe Company uses budgets in controlling costs. The August 2022 budget report for the company's Assembling Department is as follows. Ivanhoe Company Budget Report Assembling Department For the Month Ended August 31, 2022 Difference Manufacturing Costs Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable Variable costs Direct materials $53,760 $52,760 $1,000 Favorable Direct labor 61,440 58,240 3,200 Favorable Indirect materials 29,440 29.640 200 Unfavorable Indirect labor 21,760 21,310 450 Favorable: Utilities 22,400 22,200 200 Favorable Maintenance 11,520 11,780 260 Unfavorable Direct labor 61,440 58,240 3,200 Favorable Indirect materials 29.440 29,640 200 Unfavorable Indirect labor 21,760 21,310 450 Favorable Utilities 22,400 22.200 200 Favorable Maintenance 11,520 11,780 260 Unfavorable Total variable 200,320 195,930 4,390 Favorable Fixed costs Rent 10,800 10,800 Supervision 18,600 18,600 -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable Depreciation 5,500 5,500 -0- Neither Favorable nor Unfavorable Total fixed 34,900 34,900 Total costs -0- Neither Favorable nor Unfavorable $235,220 $230,830 $4.390 Favorable The monthly budget amounts in the report were based on an expected production of 64,000 units per month or 768,000 units per year. The Assembling Department manager is pleased with the report and expects a raise, or at least praise for a job well done. The company president, however, is unhappy with the results for August because only 62.000 units were produced. (a) State the total monthly budgeted cost formula. (Round cost per unit to 2 decimal places, e.g. 1.25.) The formula is + variable costs of $ per unit. (b) Prepare a budget report for August using flexible budget data. (List variable costs before fixed costs.) IVANHOE COMPANY Assembling Department Flexible Budget Report For the Month Ended August 31, 2022 Budget Variable Costs Variable Costs Actual Costs 62000 62000 Dif Fa Unfi Neithe nor Ui Variable Costs Variable Costs Direct Materials Direct Labor Indirect Materials- Indirect Labor Utilities Maintenance Total Variable Costs Fixed Costs Rent 62000 62000 10 i Indirect Labor Utilities Maintenance Total Variable Costs + Fixed Costs: Rent Supervision: Depreciation Total Fixed Costs Total Costs $