Problem 9-23 (Algo) Flexible Budgets and Spending Variances [LO9-1, LO9-2] You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage doot opening device. The presdent has asked that you review the company's costing system and "do what you can to help us get better contiol of out manulacturing overhead costs." You find that the company has newer used a fexible budget, and you suggest that preparing such a bucget would be After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data foc Mareh: During March, the company worked 14,000 machine hours and produced 8,000 units. The company had originatly planned to work 16,000 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. Prepare a flexible budget for March, (input all amounts as povive values.j