The master budget of Sheridan Company shows that the planned activity level for next year is expected to be 50000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: Indirect labor $690000 Machine supplies 270000 Indirect materials 310000 Depreciation on factory building 150000 Total manufacturing overhead $1420000 A flexible budget for a level of activity of 60000 machine hours would show total manufacturing overhead costs of $1674000. O $1704000. $1554000. $1420000