Waterways for Chapter 10 (WCP10sum) Summer Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead for March. (Refer to Waterways 9 if you are uncertain about variable versus fixed costs.) Waterways Corporation Manufacturing Overhead Budget (Static) For the Month of March Waterways Corporation Manufacturing Overhead Costs (Actual) For the Month of March Budgeted Production (Units) 118,000 Production in units 118,500 Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial Total budgeted costs $ 5,900 14,160 11,800 8,260 42,000 16,800 3,000 1,200 1,500 $104,620 Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial Total costs $ 5,910 14,195 11,880 8,275 42,100 16,800 3,000 1,200 1,650 $105,010 Waterways produced 118,500 units in March rather than the budgeted number of units. Instructions: a. Prepare a flexible budget overhead budget based on the following amounts produced. (1) 115,000 units (2) 116,000 units (3) 117,000 units (4) 118,000 units (5) 119,000 units b. Prepare a flexible budget performance report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March. c. Prepare a responsibility report for the manufacturing overhead for March assuming only variable costs are controllable