The Preston Company is in the process of preparing its manufacturing overhead budget for the upcoming year. Sales are projected to be 40,000 units. Information about the various manufacturing overhead costs follows: (Click the icon to view the manufacturing overhead cost information.) Requirement Prepare the manufacturing overhead budget for the Preston Company for the upcoming year. Prepare the manufacturing overhead budget by first calculating the total variable manufacturing overhead, then calculate the total fixed manufacturing overhead and total manufacturing overhead. i Data Table The Preston Company Manufacturing Overhead Budget For the upcoming Year Variable rate per unit Total fixed costs Projected Sales (Units) Variable manufacturing overhead costs: Indirect materials Indirect materials............ Supplies... ....... ..... Supplies Indirect labor....................... $0.90 $1.10 $0.50 $0.30 $0.40 Indirect labor Plant utilities ....................... Plant utilities $67,000 $34,000 $11,000 $42,000 $21,000 $69,000 Repairs and maintenance... Depreciation on plant and equipment Insurance on plant and equipment..... Repairs and maintenance Total variable manufacturing overhead Plant supervision................... Print Done