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 0.50 Utilities 0.30 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 5,500-8,500 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $7,300 Supervision $3,500 Indirect materials 3,650 Depreciation 1,000 Utilities 1,850 Property taxes 500 (a) Prepare a flexible budget performance report, assuming that the company worked 7,500 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, 2020 Budget Actual Costs $ $ $ Differenc Favorabl Unfavoral Neither Favo nor Unfavor (b) Prepare a flexible budget performance report, assuming that the company worked 7.000 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, 2020 Budget Actual Costs $ $ $ Ur Neith nor