Wade Company expects to produce 5,500 units of product IOA during the current year. Budgeted variable manufacturing costs per unit are direct materials $7, direct labour $13, and overhead $18. Monthly budgeted fixed manufacturing overhead costs are $8,000 for depreciation and $3,800 for supervision. In the current month, Wade produced 6,000 units and incurred the following costs: direct materials $38,850, direct labour $76,440, variable overhead $116,640, depreciation $8,000, and supervision $4,000. Instructions Prepare a static budget report