Sheridan, Inc. uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows Indirect labor Indirect materials Maintenance Utilities $5.00 2.50 0.50 0.30 Fixed overhead costs per month are: Supervision Insurance Property taxes Depreciation $1,270 470 670 1,910 The company believes it will normally operate in a range of 4,700 to 8,700 machine hours per month. During the month of August, 2022, the company incurs the following manufacturing overhead costs. Indirect labor $31,490 Indirect materials 18,090 Maintenance 3,130 Utilities 2,120 Supervision 1,520 Insurance 470 Property taxes 670 Depreciation 2,000 Prepare a flexible budget report, assuming that the company used 6,700 machine hours during August. (List variable costs before fixed costs) Prepare a flexible budget report, assuming that the company used 6.700 machine hours during August. (List variable costs before fixed costs) SHERIDAN, INC. Manufacturing Overhead Budget Report (Flexible) For the Month Ended August 31, 2022 Budget at 6,700hrs. Actual at 6,700hrs Difference Favorable (F) Unfavorable (U) Not Applicable (NA)