After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: During March, the company worked 22,000 machine-hours and produced 16,000 units. The company had originally planned to work 24,000 machine-hours during March. Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March. Prepare a flexible budget for March. (Input all amounts as positive FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total \begin{tabular}{|l|l|} \hline & U \\ \hline & i \\ \hline & U \\ \hline & U \\ \hline \hline & U \\ \hline \hline \end{tabular}