You have just been hired by Open Door 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 formulas and gathered the following actual cost data for April: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $17,700 plus $0.16 per machine-hour $39,600 plus $2.90 per machine-hour $0.90 per machine-hour $95,200 plus $1.55 per machine-hour $68,500 Actual Cost in April $ 22,960 $ 93,850 $ 18,250 $ 128,850 $ 71,100 During April, the company worked 19,000 machine-hours and produced 14,000 units. The company had originally planned to work 21,000 machine-hours during April. Required: 1. Prepare a flexible budget for April OpenDoor Corporation Flexible Budget For the Month Ended April 30 Flexible Budget 19,000 Machine-hours Utilities Maintenance Supplies Indirect labor Depreciation Total 2. Prepare a report showing the spending variances for April. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) OpenDoor Corporation Spending Variances For the Month Ended April 30 Flexible Actual Budget Results Spending Variances Utilities Maintenance Supplies Indirect labor Depreciation Total