MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable (b) Prepare a flexible budget performance report, assuming that the company worked 10,600 direct labor hours during the month. (List variable costs before fixed costs.) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable Click if you would like to Show Work for this question: Open Show Work Question 2 Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.70 Utilities 0.30 Fixed overhead costs per month are Supervision $4,100, Depreciation $1,000, and Property Taxes $800. The company believes it will normally operate in a range of 7,200-13,200 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor Indirect materials $4,100 $10,940 7,640 2,950 Fixed Costs Supervision Depreciation Property taxes 1,000 800 Utilities (a) Prepare a flexible budget performance report, assuming that the company worked 11,200 direct labor hours during the month. (List variable costs before fixed costs.)