The cutting department of Morgan Manufacturing Company operated during June 2017 with the following manufacturing overhead cost budget based on 10,000 hours of monthly productive capacity: Cutting Department Overhead Budget (10,000 hours) For the Month of June 2017 Variable costs: Factory 200,000 4,000 Utilities (usage charge136.000 Indirect labor Total variable $640,000 Fixed costs: Supervisory salaries.320,000 Factory Utilities (base charge!.160.000 64,000 Total fixed Total manufacturing overhead. The cutting department was operated for 9,500 hours during June and incurred the following manufacturing overhead costs: $544.000 $1,184.000 Actual Factory Indirect labor Utilities (usage fac Utilities (base $195,100 277,000 152,300 179,000 336,000 64.600 $1,204,000 Factory Total manufacturing Using a flexible budgeting approach, prepare a performance report for the cutting department for June 2017, comparing actual overhead costs with budgeted overhead costs for 9,500 hours. Separate overhead costs into variable and fixed components and show the amounts of any variances between actual and budgeted amounts. Actual Budget Variance