Question 2 (Flexible Budgets) 20 Marks The manufacturing overhead budget for Reebles has the following items Variable costs Indirect materials Indirect labour Maintenance Manufacturing supplies Total variable costs 0 $25,000 $12,000 $10,000 1 $6,000 $53,000 Fixed costs Supervision $17,000 Inspections $1,000 Insurance $2,000 Amortization $15,000 Total foxed costs $35,000 The budget was based on an estimated production of 2.000 units. During November, 2,500 units were produced, and the following costs were incurred: Variable costs Indirect materiale 2 ces Review View Help Editing " ' . The budget was based on an estimated production of 2,000 units. During November, 1.500 units were produced, and the following costs were incurred: Variable costs Indirect materials $25.00 Indirect labour $1.500 Maintenance SH.200 Manufacturing supplies Total variable costs $52.000 Fixed costs Supervision Inspections Insurance Amortiration $19,00 $1.200 $2,200 $14,00 Required: #) Prepare a flexible manufacturing overhead budget and the actualmente verhead report for month ended November b) Determine the difference in total variable costs, totalted costs and total costs Determine the differences between budgeted and actual cosiddet Vance) di identify the variances favorables unfavourable O 31