Question: Using the information in E24-3, assume that in July 2010, Raney Company incurs the following manufacturing overhead costs. Instructions(a) Prepare a flexible budget performance report,

Using the information in E24-3, assume that in July 2010, Raney Company incurs the following manufacturing overhead costs.

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 yourfindings.

Variable Costs Indirect labor Indirect materials Utilities Fixed Costs Supervision $4,000 1,500 $8,700 Depreciation Property taxes 4,300 3,200 800

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