Accounting (ACCT 2100 & 2110 STANDARD VIEW PRINTER VERSION BACK NEXT Exercise 24-10 Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2017 contained the following data. Variable Costs Fixed Costs Indirect materials $11,100 Supervisory salaries $35,400 Indirect labor 10,700 Depreciation 7,500 Utilities 7,800 Property taxes and Insurance 7,300 Maintenance 5,700 Maintenance 4,000 Actual variable costs were indirect materials $15, 100, Indirect labor $9,500, utilities $9,600, and maintenance $5,200. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $8,300. The actual activity level equaled the budgeted level. All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) CHUBBS INC. Manufacturing Overhead Flexible Budget Report For the Quarter Ended March 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual C $ MacBook