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Ivanhoe Company uses budgets to control costs. The May 2022 budget report for the company's packaging department is as follows: IVANHOE COMPANY Budget Report Packaging Department Month Ended May 31, 2022 Difference: Favourable (F) The monthly budget amounts in the report were based on an expected production of 47,000 units per month or 564,000 units per year. The company president was unhappy with the department manager's performance. The department manager could not understand the unfavourable results. In May, 52,000 units were produced. (a) Your answer is correct. State the total budgeted cost formula. (Round cost per unit to 2 decimal places, eg. 1.25.) Prepare a budget report for May, using flexible budget data. (List voriable costs before fixed costs. Round per unit caiculations to 2 decimal places, eg. 1.25 and final answers to 0 decimal places, e.g. 125.) Utilities Maintenance Total Variable Costs Fixed Costs Rent Supervision Depreciation Total Fixed Costs Total Costs Packaging Department Budget Report (Flexible) For the Month Ended May 31, 2022 Favourable Unfavourable Neither Favourable nor Unfavourable Actual Difference Favourable Favourable Favourable Favourable Favourable Favourable Favourable Favourable Favourable Favourable Neither Favourable nor Unfavourable Neither Favourable nor Unfavourable Neither Favourable nor Unfavourable Neither Favourable nor Unfavourable Favourable

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