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 Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs $53,680 Direct materials Direct labor Indirect materials 59,780 $52,580 $1,100 Favorable 56,480 3,300 Favorable 29,380 100 Unfavorable 29,280 Indirect labor 19,520 19.060 460 Favorable Utilities 15,250 15,140 110 Favorable Maintenance 12.200 12.530 330 Unfavorable 189,710 185,170 4,540 Favorable Total variable Fixed costs Rent Supervision 11,700 11,700 18,500 18.500 -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -O- Neither Favorable nor Unfavorable Depreciation 7,300 7.300 Total fixed 37,500 37.500 Total costs $227,210 $222,670 $4,540 Favorable The monthly budget amounts in the report were based on an expected production of 61,000 units per month or 732,000 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 59,000 units were produced. (a) State the total monthly budgeted cost formula. (Round cost per unit to 2 decimal places, eg. 1.25.) The formula is $ 37500 + variable costs of $ 3.11 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 1 Nei Budget Actual Costs na Units > 61000 59000 Variable Costs Direct Materials