The cost formula for maintenance department of Rainbow, Ltd., is $19,200 per month plus $7.60 per machine hour used b the production department Required Calculate the maintenance cost that would be budgeted for a month in which 6.700 machine hours are planned to be used. Maintenance cost Prepare an appropriate performance report for the maintenance department assuming that 7,070 machine hours were actually used in the month of May and that the total maintenance cost incurred was $88,990. (Indicate the effect of each variance b for favorable, U" for unfavorable, and "None" for no effect (i.e., zero variance).) selecting "F" oininal Budget 6,700 MH) Flexed Budget Actual Cost (7,070 MH) Variance Total maintenance cost