You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing 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 overhead planning and control. After much effort and analysis, you determined the following cost formules and gathered the following actual cost data for March Actual Coatin Control Ottes 316,200 + $0.15 perwakihor $ 30,000 Maintenance $38,901 11.50 eachine-Bour 56.700 applies 90.90 per nie-boue $ 16,200 Indirect labor 194,300 - 11.20 hour 0116.400 Depreciation 567.000 169,500 Meme During March, the company worked 14,000 machine hours and produced 8.000 units. The company had originalynlanned to wor 15.000 machinebours during March Required: 1. Prepare a fiecle budget for March 2. Prepare a report showing the spending variances for March Answer is not complete Complete this question by entering your answers in the tabs below. FAB Corporation Fleublo Budget For the Month Ended March 1 Machine hours $ Us Maintenance Supplies indirect labor Depreciation Total 18,300 59,900 12.500 111.000 17.800 Required 2 >