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P22-3A Prepare flexible manufacturing overhead budget Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows Ratchet Company Budget Report Assembling Department For the Month Ended August 31,2017 Difference Favorable F Unfavorable Manufacturing Cost Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance S 48,000 54,000 24,000 18,000 15,000 12,000 171,000 47,000 51,200 24,200 17,500 14,900 12,400 167,200 $1,000 F 2,800 F 200 U 500 F 100 F 400 U 3,800 F Total variable Fixed costs 12,000 17,000 6,000 35,000 12,000 17,000 6,000 35,000 Rent upervision Depreciation Total fixed Total costs S 206,000 S 202,200 $3,800 F The monthly budget amounts in the report were based on an expected production of 60,000 units per month or 720,000 units per year. The Assembling Department manager is pleased with the report and expects a raise, or at least praise for a job well done. The company president, however, is unhappy with the results for August because only 58,000 units were produced