The Newgard Shop (INS) specializes in making fraternity and sorority tote bags for the college market. TNS produces bags in batch sizes of 93. For rush orders, TNS will produce smaller batches for an additional charge of $167 per setup. Budgeted and actual costs for the production process for 2020 are as follows: C Requirement 1. What is the static budget number of setups for 2020? Determine the formula, then compute the static budget number of setups. Static budget number of setups Data table Requirement 2. What is the flexible-budget number of setups for 2020? Determine the formula, then compute the flexible budget number of setups. Flexible budget number of setups Requirement 3. What is the actual number of setups in 20207 Determine the formula, then compute the actual number of setups. Actual = number of setups Requirement 4. Assuming fixed setup overhead costs are allocated using setup-hours, what is the predetermined fixed setup over First, determine the formula and compute the static budget number of hours. Static budget number of hours Static-Budget Amounts Number of bags produced 111,600 Actual Results 93,000 Average number of bags per setup Hours to set up machines Direct variable cost per setup-hour Total fixed setup overhead costs 93 93 7 $ 27 $ 28 $ 14,400 $ 17,300 Print Done Requirements Now determine the formula and compute the predetermined fixed setup overhead alocation rate. Fixed overhead rate Requirement 5. Does TNS's charge of $167 cover the budgeted variable overhead cost of an order? The budgeted total cost? (Abbreviation: OH - Overhead.) Begin by determining the formula and computing the budgeted variable overhead cost of an order. Budgeted variable OH cost of a setup 1. What is the static budget number of setups for 2020? 2. What is the flexible-budget number of setups for 2020? 3. What is the actual number of setups in 2020? 4. Assuming fixed setup overhead costs are allocated using setup-hours, what is the predetermined fixed setup overhead alocation rate? 5. Does TNS's charge of $167 cover the budgeted variable overhead cost of an order? The budgeted total cost? 6. For direct variable setup costs, compute the price and efficiency variances. 7. For fixed setup overhead costs, compute the spending and the production-volume variancia. 8. What qualitative factors should TNS consider before accepting or rejecting a special order? Next, determine the formula and compute the budgeted fixed overhead cast of an order. Budgeted fixed OH Print Done - X