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Here is the complete question. Please help me solve this problem. I need help. You have just been hired by FAB Corporation, the manufacturer of

Here is the complete question. Please help me solve this problem. I need help.

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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 nd that the company has never used a exible budget, and you suggest that preparing such a budget would be an excellent rst 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: Actual Cost Cost Formula in March Utilities h$35400 plus $0.14 per machine- $ 20,580 Main tenancehf'mo plus $2.00 per machine $ 66,200 Supplies $0.60 per machine-hour $ 10,000 Indirect $94,500 plus $1.90 per machine- $ 127,700 labor hour Depreciation $68,100 $ 69,800 During March, the company worked 15,000 machine-hours and produced 9,000 units. The company had originally planned to work 17,000 machinehours during March. Required: 1. Prepare a exible budget for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Utilities Maintenance Supplies Indirect labor Depreciation 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 (i.e., zero variance). Input all amounts as positive values.) Utilities Maintenance Supplies Indirect labor Depreciation

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