Question 12 7.14 pts ABC Company is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for May. Fixed Element per Month Variable Element per Container Refurbished Actual Total for May Revenue $5,300 $156,400 Employee salaries and wages $42.900 $1,300 $82,300 Refurbishing materials $500 $15.100 Other expenses $42,900 $41,900 When the company prepared its planning budget at the beginning of May, it assumed that 27 containers would have been refurbished. However, 29 containers were actually refurbished during May. The spending variance for "Employee salaries and wages" for May would have been closest to: Fixed Element per Month Variable Element per Container Refurbished Actual Total for May Revenue $5,300 $156,400 Employee salaries and wages $42,900 $1,300 $82,300 Refurbishing materials $500 $15,100 Other expenses $42,900 $41,900 When the company prepared its planning budget at the beginning of May, it assumed that 27 containers would have been refurbished. However, 29 containers were actually refurbished during May. The spending variance for "Employee salaries and wages" for May would have been closest to: $4,300 F O $1,700 U O $1,700 F 0 $4,300 0