Please answer all questions.

You have just been hired by FAB Corporationthe manufacturer of a revolutionary new garage door opening 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 Cost in Cost Formula March Utilities $16,400 + $0.11 per machine-hour $ 20,180 Maintenance $38,600+ $1.20 per machine-hour 54,000 Supplies $0.60 per machine-hour 10,600 Indirect labor $94,700 + $2.10 per machine-hour 133,400 Depreciation $68,400 $ 70.100 S S During March, the company worked 16,000 machine-hours and produced 10,000 units. The company had originally planned to work 18,000 machine-hours during March. Required: 1. Prepare a flexible budget for March 2. Prepare a report showing the spending variances March Complete this question by entering your answers in the tabs below. Required i 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 Utilities Maintenance Supplies Indirect labor Depreciation 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: Actual Cost in Cost Formula March Utilities $16,400 + $0.11 per machine-hour s 20,180 Maintenance $38,600 + $1.20 per machine-hour 54,000 Supplies $0.60 per machine-hour $ 10.600 Indirect labor $94,700 + $2.10 per machine-hour $ 133,400 Depreciation $68,400 S 70,100 During March, the company worked 16,000 machine-hours and produced 10,000 units. The company had originally planned to work 18,000 machine-hours during March Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March Complete this question by entering your answers in the tabs below. 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 (1.e., zero varlance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total