Please do not give solution in image format thanku You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president hasasked that you review the company's costing system and "do what you can to help us get better control of our manufacturingoverhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would bean 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 March:UtilitiesMaintenanceSuppliesIndirect laborDepreciationCost Formula$16,300+ $0.20 per machine-hour$38,800+ $1.40 per machine-hour$0.70 per machine-hour$94,100$68,000Required 1$1.20 per machine-hourRequired:1. Calculate the activity variances for March.2. Calculate the spending variances for March.During March, the company worked 18,000 machine-hours and produced 12,000 units. The company had originally planned to work20,000 machine-hours during March.Actual Costin March.$ 22,100$ 60,600$ 13,800Required 2$ 119,000$ 69,700Complete this question by entering your answers in the tabs below. jes1. Calculate the activity variances for March.2. Calculate the spending variances for March.Complete this question by entering your answers in the tabs below.Required 1 Required 2Calculate the activity variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)FAB CorporationActivity VariancesFor the Month Ended March 31UtilitiesMaintenanceSuppliesIndirect laborDepreciationTotal2. Calculate the spending variances for March.Complete this question by entering your answers in the tabs below.Required 1 Required 2Calculate the spending variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)FAB CorporationSpending VariancesFor the Month Ended March 31UtilitiesMaintenanceSuppliesIndirect laborDepreciationTotal

Name: Please do not give solution in image format thanku You have just been
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Please do not give solution in image format thanku You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president hasasked that you review the company's costing system and "do what you c