12 Waterways Continuing Problen Waterways Continuing Problem oration is continuing its budget preparations. Waterways had wcP 22 Waterways Corporatio the following static budget and overhead costs for March 2016 WATERWAYS CORPORATION WATERWAYS CORPORATION Manufacturing Overhead BudgetManufacturing Overhead Costs (Actual) For the Month of March 2017 (Static) For the Month of March 2017 Budgeted production in units Budgeted costs 117.500Production in units Costs 118,500 Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial Indirect materials Indirect labor Utilities Maintenance Salaries Depreciation Property taxes Insurance Janitorial $ 5,910 14,195 11,880 8,275 42,000 16,800 3,000 1,200 1,500 104,760 s 5.875 14,100 11,750 8,225 42,000 16,800 3,000 1,200 1,500 $104.450Total costs Total budgeted costs Waterways produced 118,500 units in March rather than the budgeted number of units. Instructions (a) Prepare a flexible overhead budget based on the following amounts produced. (1) 115.500 units (2) 116,500 units (3) 117,500 units (4) 118.500 units 5) 119,500 units (b) Prepare a flexible budget report showing the differences (favorable and unfavorable) in manufacturing overhead costs for the month of March. (e) Prepare a responsibility report for the manufacturing overhead for March, assuming only variable costs are controllable