Jenner Company developed its annual manufacturing overhead budget for its master budget for 2018 as follows Expected Annual operating capacity Expected Annual Budgeted Costs at 120,000 Direct Labor Hours 120,000 Direct labor hours Variable Costs: Indirect Labor Indirect Materials Factory Supplies Total Variable Costs Fixed Costs Depreciation Supervision Property Taxes Total Fixed Costs Total Costs $420,000 90,000 30,000 $540,000 $180,000 120,000 96,000 $396,000 $936,000 Instructions Prepare a flexible budget for a monthly activity level of 8,000 and 9,000 direct labor hours