Your answer is partially correct. (a) State the total monthly budgeted cost formula. (Round cost per unit to 2 decimal places, eg. 1.25.) The formula is 227210 + variable costs of $ 3.11 per unit (b) Prepare a budget report for August using flexible budget data. (List variable costs before fixed costs.) IVANHOE COMPANY Assembling Department Flexible Budget Report For the Month Ended August 31, 2022 D F Un Neith nor | Budget Actual Costs Units 189710 61000 Variable Costs Direct Materials $ 51920 52580 $ 660 Direct labor 57820 56480 1340 Indirect Materials 28320 29380 1060 Indirect Labor V 18880 19060 180 Utilities 14750 15140 390 Ivanhoe Company Budget Report Assembling Department For the Month Ended August 31, 2022 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $53,680 $52,580 $1,100 Favorable Direct labor 59.780 56,480 3,300 Favorable Indirect materials 29.280 29,380 100 Unfavorable Indirect labor 19.520 19,060 460 Favorable Utilities 15,250 15.140 110 Favorable Maintenance 12.200 12.530 330 Unfavorable Total variable 189,710 185.170 4,540 Favorable Fixed costs Rent Supervision Depreciation 11,700 11,700 -O- Neither Favorable nor Unfavorable 18,500 18,500 -0. Neither Favorable nor Unfavorable 7,300 7.300 -0- Neither Favorable nor Unfavorable 37.500 37,500 -0- Neither Favorable nor Unfavorable $227,210 $222.670 $4,540 Favorable Total fixed Total costs The monthly budget amounts in the report were based on an expected production of 61,000 units per month or 732,000 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 59,000 units were produced