Chap 9 GRADED 0 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget and you suggest that preparing such a budget would be an excellent first step in overhead planning and control After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March Asante Supplies Indirect labor Depreciation Cortona 120.600 + $0.10 per hour 30.000 + SL 60 Detachan hour $0.30 per scare how $130.000 + $0.70 per chinhou 370.000 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March Required: 1. Prepare a flexible budget for March 2. Prepare a report showing the spending variances for March 3 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a flexible budget for March (Input all amounts as positive values.) FAB Corporation Flexible Budget For the Month Ended March 31 Machine hours 30.000 Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a flexible budget for March. (Input all amounts as positive values.) FAB Corporation Flexible Budget For the Month Ended March 31 Machine-hours 30,000 S Utilities Maintenance Supplies Indirect labor 23,600 88,000 9,000 151,000 70,000 278,600 Depreciation Total $ (Required 1 Required 2 > 30,000 machine hours during March Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March. % Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. the tabs Required 1 Required 2 Prepare a report showing the spending variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities $ 1,000 U Maintenance 3,500F Supplies 600U Indirect labor 1,400U Depreciation 1.600 Total $ 8,100 X U