PLEASE SOLVE ASAP FOR A POSITIVE RATING

Groschl Company has had great difficulty in controlling manufacturing overhead costs. At a recent convention, the president heard about a control device for overhead costs known as a flexible budget, and he has hired you to implement this budgeting program in Groschl Company. After some effort, you have developed the following cost formulas for the company's Machining Department. These costs are based on a normal operating range of 17,800 to 35,600 machine-hours per month: Overhead Cost Cost Formula Utilities $0.88 per machine-hour Lubricants $1.44 per machine-hour plus $11,750 per month Machine setup $0.25 per machine-hour Indirect labour $1.07 per machine-hour plus $123,000 per month Depreciation $37,500 per month During March, the first month after your preparation of the above data, the Machining Department worked 31,400 machine-hours and produced 15,700 units of product. The actual manufacturing overhead costs for March were as follows: Utilities Lubricants Machine setup Indirect labour Depreciation $ 26,122 55,216 9,210 158,818 37,500 Total manufacturing overhead cost $286,866 Fixed costs had no budget variances. The department had originally been budgeted to work 35,600 machine-hours during March. Required: 1. Prepare an overhead performance report for the Machining Department for the month of March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round "Cost Formula per MH" answers to 2 decimal places.) THE GROSCHI COMPANY Overhead Performance Report-Machining Department For the Month of March Overhead Costs Cost Actual Formula per 31,400 MHs Flexible Budget 31,400 MHs Spending Variance MH Variable: $ 0.00 0 0 Total variable cost Fixed: 0 0 Total fixed cost Total overhead cost $ 0 $ 0