You have just been hired by FAB Corporation, the manufacture of a revolutionary new garoge door opening device. The president has asked that you revlew the company's costing system and 'do what you can to help us get better controt of our menufoctiring. overhead costs, You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overthead plonning and control. After much effort and analysis, you determined the foliowing cost formulas and gathered the following actual cost data for March: During Morch, the company worked 20,000 machine hours and produced 14,000 units. The company had originally planned to work 22.000 machine hours duting March. Pequired: 1. Prepare allexible budget for March. 2. Prepore a ieport showing the spending varionces for March Complete this question by entering your answers in the tabs below: Mequirea: 1. Prepare a flexible budpet for March 2. Prepare a report showing the spending variancet for Motch Complete this question by enfering your answers in the tabs befow. Prepare a flexible budgot for March (Input al imounts as positive values.) requirea: 1. Preoare a flexible budget for March 2 Prepare o report showing the spending variances for Morch. Complete this question by entering your answern in the tabs bolow. Frepare a report ahewing the spociding variances for March. (Indicate the diffect of each veriance by salecting if for