JOSH Co. manufactures delicious barbeque sauce. Mr. Clifford, JOSH's CEO, is trying to understand last quarter's variances and has asked you to prepare a flexible budget for JOSH's product costs. JOSH has the following standards to manufacture one bottle of sauce, and allocates overhead based on the machine hours used. Standard Quantity Standard Price Standard Cost Direct Materials 2 ounces $0.45 per ounce $ 0.90 Direct Labor 0.25 labor hours $ 10.00 per labor hour 2.50 $3.50 per machine Variable MOH 0.10 machine hours 0.35 hour Total Variable Cost per Bottle $ 3.75 Which of the above amounts is JOSH's predetermined overhead rate? $ Prepare JOSH's flexible budget based on actual production by completing the table below. Actual Production Flexible Budget Master Budget Bottles of Sauce Produced 28,500 botties bottles 30,000 bottles $ Direct Materials 25.080 S $ 27.000 Direct Labor $ 74,100 $ $ 75 000 Variable MOH 5 9.975 $ 5 10.500 $ 165 200 Fixed MOH $ 160 000 5 3 Total Product COSES 264 365 s 3 272 500 a