Month Cost (f) Workshop Hours December 840 3,200 January 610 2,100 February 700 2,500 March 580 1,900 REQUIRED: a) Compile a fixed budget and flexible budgets for 2,000, 2,800 and 3,600 hours for April 2019. (Round to 2 decimal places) (25 marks)QUESTION 5: The Production Director at the Tigron Research Company is unhappy about the differences reported to her on the basis of actual costs being compared with the production centre's fixed budget. She seeks your help and asks you to prepare both the relevant fixed and flexible budgets for April 2021, based on the information below. The following costs information, with related details, is provided: Cost: Details: Electricity f15 per 100 hours up to 3,200 hours f12 per 100 hours for hours above 3,200 Business Rates E40 per month Maintenance E30 up to 2,800 hours; f40 above 2,800 hours Spares & Repairs 675 up to 1,600 hours Additional $25 for steps of 400 hours up to 3,200 hours Additional f40 above 3,200 hours Salaries E3,000 Indirect Labour E20 per 100 hours Insurance 695 Rent E180 Advertising (250 Heating E45 from 1,200 to 2,000 hour inclusive $55 above 2,000 and up to 3,000 hours E60 above 3,000 Other supplies f12 per 100 hours Depreciation $400 up to 3,000 hours, {550 above 3,000 Supervisors E250 up to 2,000 hours An extra {60 for steps of 400 hours above 2,000 hrs, an additional f30 from 3,600 hours upward The machine workshop normally operates 3,000 hours in April 2021. Semi-Variable Costs: 1. Telephone rental 675 a month: Metered calls 10.15 an hour 2. Power. The budget figures are to be based on the costs for the previous four months (see table below)