Magnify Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. Machine setup-hours is the only driver of manufacturing overhead costs. Magnify has a set up capacity of 1,595 hours. (Click the icon to view the information.) Calculate the manufacturing overhead costs budget (label It Schedule 5). Schedule 5: Manufacturing Overhead Costs Budget for the Year Ending December 31, 2017 Machine Setup Overhead Costs - Data Table Knox Ayer 16,000 lamps 21.000 lamps Total manufacturing overhead costs 1. Quantity of lamps to be produced 2. Number of lamps to be produced per batch 3. Setup time per batch Variable cost = $70 per setup-hour Fixed cost-$71,000 200 lamps/batch 3 hours batch 50 lamps/batch 4 hours/batch Print Done