View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overtread costs per direct labor hour are as follows. $1.00 Indirect labor Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month ate Supervision 54.000. Depreciation $1.200, and Property Taxes $800. The company believes it will normally operate in a range of 7.000-10.000 direct labor hours per month Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs Variable Costs Fixed Costs Indirect labor SB.800 $4.000 Supervision Depreciation 5 800 Indirect materials 1200 CHRYS (a) Prepare a flexible budget performance report, assuming that the company worked 9.000 direct labor hours during the month. (List variable costs before faced costs) MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 Dill Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs Direct Labor Hours 10600 10600 Variable Costs $ 10600 S 10940 Indirect Labor $ Indirect Materials JE 7420 7640 3180 2950 230 Question 2 of 4 > 12/25 3180 2050 230 31200 2150 4100 4100 O 1000 800 0001 0 5900 D 5900 ht 27430 5 27100 330 (b) Prepare a flexible budget performance report, assuming that the company worked 8.500 direct labor hours during the months variable costs before found costs) Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Costs 11200 11200 15200 $ 10940 200 Faver 7540 7040 200 Table COPE DOO 410 w 3350 22.400 21530 4100 4100 0 For 3000 1000 0 Now 00 500 10C Myers Company uses a flexible budget for manufacturing overhead be on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows Indirect labor $1.00 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4.000, Depreciation $1.200 and Property 5800. The company believes it will normally operate in a range of 7.000-10,000 direct labor hours per month Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs Variable Costs Fixed Costs $8,800 indirect labor Supervision $4.000 Indirect materials 1.200 5.800 Depreciation Utilities 800 3200 Property taxes company worked 9.000 direct labor hours during the months