State the total monthly budgeted cost formula and prepare a budget report

ent CALCULATOR FULL S Problem 10-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials $55,900 $54,900 $1,000 Favorable Direct labor Indirect materials26,000 26,100 100 Unfavorable Indirect labor Utilities 59,800 56,500 3,300 Favorable 19,500 19,080 420 Favorable 16,250 16,090 160 Favorable 9,100 9,200 100 Unfavorable Total variable 186,550 181,870 4,680 Favorable Fixed costs Rent Supervision Depreciation 11,200 11,200 -0- Neither Favorable nor Unfavorable 16,500 16,500-0-Neither Favorable nor Unfavorable 7,800 7,800 0-Neither Favorable nor Unfavorable to search