Exercise 23-03 Your answer is partially correct. Try again. Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: Indirect labor Indirect materials Utilities $1.00 0.70 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,000 direct labor hours. (List variable costs before fixed costs.) MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2020 T Activity Level Direct Labor Hours 4 Variable Costs Indirect Labor Indirect Materials Utilities Total Variable Costs 4 Fixed Costs Supervision T Depreciation 4 T Property Taxes 800 800 none Total Fixed Costs - 6000 6000 NONE Total Costs 23850 23800 FAVORABLE LINK TO TEXT LINK TO VIDEO