Prepare the calculation based on the following information: Antarctica Manufacturing Ltd. is a manufacturer of cruise ships that allow people to explore the Antarctic. Assume you have just been hired by Antarctica Manufacturing Ltd as their lead accountant. The CEO has asked you to review the company's costing system and do what you can do to help us get better control of our manufacturing overhead costs". You discover that the company has never used a flexed budget. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March 2019: Ultilities Maintenance Supplies Indirect labour Depreciation Cost formula $20,600 plus $0.10 per machine hour $40,000 plus $1.60 per machine hour $0.3 per machine-hour $130,000 plus $0.70 per machine hour $70,000 Actual cost in March $24,200 $78,100 $8,400 $149,600 $71,500 During March 2019, the company worked 26,000 machine-hours and produced 15,000 engine components. Antarctica Manufacturing Ltd. had originally planned to work 30,000 machine-hours in March 2019. a) Prepare a flexed budget for March. (5 marks) Response template: b) Referring to the flexed budget that you prepared under (a), indicate whether the spending variance (which you will need to prepare) for each component are favourable or unfavourable. Please note that the CEO has full trust in you so no further explanation is required. (10 marks) Response template: B 1 U X2 x2 lo lili TIT 1941 M ABC 123