Need help urgently Ive tried everything
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: Actual Coat in Cost Formula March $16,100 + $0.16 per machine-hour $ 21,560 $38.900 + $1.00 per machine-hour $ 74,100 Mapplies $0.40 per nachine-hour $9,000 Indirect labor 390.100 + $1.20 per machine-hour $122,600 Depreciation $68,300 $ 70,000 Utilities Maintenance During March, the company worked 21000 machine-hours and produced 15,000 units. The company had originally planned to work 23,000 machine hours during March Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March Complete this question by entering your answers in the tabs below. Required Required 2 Calculate the activity variances for March (Indicate the effect of each variance by selecting " for favorable, "U" for unfavorable, and "Nane" for no effect (Lezero variance). Ingut all amounts as positive values.) TAD Corporation Activity Vacances For the Month Ended March 31 UUM Maintenance IF Supplies IF Indirect labor Depreciation 70,000 None Total 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: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $16,100 + $0.16 per machine-hour $30,900 + $1.00 per machine-hour $0.40 per machine-hour $94,100 + $1.20 per machine-bour $68,300 Actual Cost in March $ 21,580 $ 74,100 $ 9,000 $122,600 $ 70,000 During March, the company worked 21000 machine hours and produced 15,000 units. The company had originally planned to work 23,000 machine-hours during March. Required: 1. Calculate the activity varlances for March 2. Calculate the spending variances for March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the spending variances for March (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities U Maintenance Supplies u Indirect labor U Depreciation 0 Total
