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 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000- 10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $8,800 5,800 3,200 Indirect materials Supervision Depreciation Property taxes $4,000 1,200 Utilities 800 (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 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 MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs Direct Labor Hours 7000 8000 Variable Costs Indirect Labor Favorable 00 Indirect Materials Favorable X X Utilities DDD 3200 Favorable X Total Variable Costs 16800 Favorable Fixed Costs Supervision 4000 4000 Neither Favorable nor Unfavorable v > Depreciation 1200 1200 Neither Favorable nor Unfavorable v Property Taxes 800 800 Neither Favorable nor Unfavorable v Total Fixed Costs 6000 6000 Neither Favorable nor Unfavorable v Total Costs Favorable (b) Prepare a flexible budget performance report, assuming that the company worked 8,500 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 Differanan MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs Direct Labor Hours Variable Costs Indirect Labor Unfavorable X Indirect Materials Favorable Utilities Favorable X Total Variable Costs Favorable Fixed Costs Supervision Neither Favorable nor Unfavorable v Depreciation Neither Favorable nor Unfavorable v Property Taxes DOLID boddd Neither Favorable nor Unfavorable v Total Fixed Costs Neither Favorable nor Unfavorable v Total Costs Favorable Click if you would like to Show Work for this question: Open Show Work