View Policies Current Attempt in Progress Ivanhoe Co. developed its annual manufacturing overhead budget for its master budget for 2022 as follows: 121,500 Direct Expected annual operating capacity Labor Hours Variable overhead costs Indirect labor 5607,500 Indirect materials 121,500 Factory supplies 60.750 Total variable 789.750 Fixed overhead costs Depreciation 255,000 Supervision 135,000 Property taxes 111.000 Total fixed 501.000 Total costs $1.290,750 The relevant range for monthly activity is expected to be between 9.500 and 12.000 direct labor hours Prepare a flexible budget for a monthly activity level of 9.500 and 10.500 direct labor hours. (Last variable costs before fixed costs)