Sheffield Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result, the president has installed a budgetary control system for 2022. The following data were used in developing the master manufacturverhead budget for the Ironing Department, which is based on an activity index of direct labor hours. Variable costs Rate per Direct Labor Hour Annual Fixed Costs Indirect labor Indirect materials $0.41 Supervision $47,640 0.54 Depreciation 15,480 Factory utilities 0.34 Insurance 12120 Factory repairs 0.24 Rent 25,440 The master overhead budget was prepared in the expectation that 482,900 direct labor hours will be worked during the year. In June 39,100 direct labor hours were worked. At that level of activity, actual costs were as shown below Variable-per direct labor hour indirect labor $0.44, indirect materials 50.53, factory utilities $0.37, and factory repairs 50.29 Fored: same as budgeted (a) &b) Your answer is partially correct (a) Prepare a monthly manufacturing overhead flexible budget for the year ending December 31, 2022. assuming production levels range from 38,500 to 52,900 direct labor hours. Use Increments of 4.800 direct labor hours. (List variable costs before found costs Lev abor Hours CH abor HUMA SHEFFIELD COMPANY Monthly Manufacturing Overhead Flexible Budget Ironing Department For the Year 2022 43300 48100 15705 773 19721 20290 2212 SIN 13090 14722 24064 240 30192 1154 taple Com Y 58X05 (a) Prepare a monthly manufacturing overhead flexible budget for the year ending December 31, 2022, assuming production levels range from 38,500 to 52,900 direct labor hours. Use increments of 4,800 direct labor hours. (List variable costs before fixed costs) Level Labor Hours Cost V Labor SHEFFIELD COMPANY Monthly Manufacturing Overhead Flexible Budget Ironing Department For the Year 2022 38500 43300 48100 15785 17753 19721 Materials 20790 23382 25974 Odles 1300 14722 16354 Repairs 9240 10392 11544 artable Costs 58905 66249 73593 Ision 42640 47640 47640 Baton 15480 15480 15480 ION 4 Costs 12120 12120 12120 2540 25440 25440 100680 100660 100680 3 S 159585 166929 374273 (b) Prepare a budget report for June comparing actual results with budget data based on the flexible budget (Last variable costs before fod costs) SHEFFIELD COMPANY Ironing Department Manufacturing Overhead Flexible Budget Report For the Year Ended Labor Hours Costs Labor Materials Budget 39100 SHEFFIELD COMPANY Ironing Department Manufacturing Overhead Flexible Budget Report For the Year Ended June 30, 2022 Actual Costs 39100 16001 17204 $ 1173 21114 20723 13294 14467 1173 Repairs v 9364 11339 1955 Variable Costs 59825 63733 3920 osts vision 47640 47640 391 dation 15480 15480 1 12120 12120 1 noe 25440 25440 bet d Costs 200680 100680 160500 164413 13910 1 Differe Favori Unfavo Neither Fa nor Unfav