XYZ Company estimates that 240,000 direct labor hours will be worked during 2017 in the Painting Department. Based on this estimate, developed for manufacturing overhead costs. It is estimated that direct labor hours worked each month will range from 16,000 to 24,000 hours. During January, 20,000 direct labor hours were worked and the following overhead costs were incurred. Using Excel, prepare a monthly flexible manufacturing overhead budget for each increment of 2,000 direct labor hours over the relevant range for the year ending December 31, 2017, Refer to Illustration 24-13 on page 1115 for an example. Using Excel, prepare a manufacturing overhead budget report for January in good form. Refer to Illustration 24-10 on page 1113 as a guide