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work Exercise 24-4 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 $1.30 0.90 19.5 0.40 1916 Part Wisdom Fixed overhead costs per month are Supervision $4,310, Depreciation $1,900, and Property Taxes $500. The company believes it will normally operate in a range of 6,400-9,400 direct labor hours per month Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs 2010 (Part Indirect labor Indirect materials $10,670 7,450 2,950 Fixed Costs Supervision Depreciation Property taxes $4,300 1,900 500 ILLALPart hassion! flaviin u e rformance fo r ming that the company worked 8,400 direct labor hours during the month (list variable costs before fixed costs) 5 Weygandt, Accounting Principles, 12e 7.800 direct labor hours during the month(tist (1) Prepare a flexible budget performance report, assuming that the company work 2 MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2017 Difference Favorable Unfavorable Neither Favorable or Unfavorable Budet Actual Costs

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