Please follow the directions given below to complete this. Please provide separate excel sheets that show the formulas for the work. Thank you in advance!

Grantham Company manufactures dog whistles. The following information is available from the budgetary control system for 2016, and was used to create the master budget. Grantham applies overhead using an activity index of direct labor hours. variable costs Rate per direct labor hour so.56 Indirect labor 0.33 Indirect materials 0.88 Factory utilities 0.47 Factory repairs Fixed costs Amount per year $26,000 Depreciation Insurance 9,200 5,750 Property taxes Supervision 61,500 The master overhead budget was prepared with the expectation that 462,000 directlabor hours would be worked during the year. In August, 39,500 direct labor hours were worked. At that level of activity, actual costs were as shown below: variable costs Indirect labor $0.54 per labor hour Indirect materials 0.34 per labor hour Factory utilities 0.91 per labor hour 0.53 per labor hour Factory repairs $2,167 Depreciation Property taxes 15,250 Supervision Instructions. Prepare a monthly manufacturing overhead flexible budget, assuming production levels ranging from 30,000 to 45,000 direct labor hours, in increments of 5,000. Prepare a budget report for August comparing actual results to the flexible budget. Explain whether costs were successfully controlled and how you can tell THIS ASSIGNMENT MUST BE COMPLETED IN EXCEL. You should develop an efficient and customizable production cost report, using formulas whenever possible instead of keyed in values. No numeric values except the ones shown above should need to be keyed in