E10.4 (LO 2), AN Using the information in E10.3, assume that in July 2020, Myers Company incurs the following manufacturing overhead costs.

Prepare flexible budget reports for manufacturing overhead costs, and comment on findings.

Variable Costs Fixed Costs

Indirect labor $8,800 Supervision $4,000

Indirect materials $ 5,8000 Depreciation $1,200

Utilities $ 3,200 Property taxes $800

Instructions

a. Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month.

b. Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month.

c. Comment on your findings.

ADDITIONAL INFO THAT WAS NEEDED IS INCLUDED NOW