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$16,100+ $0.13 per machine-hour$38,600 $2.00 per machine-hour$0.40 per machine-hour$94,500+ $1.90 per machine-hour$68,500Actual Costin March.$ 20,760$ 76,400$ 8,600$137,200$ 70,200During March, the company worked 20,000 machine-hours and produced 14,000 units. The company had originally planned to work22,000 machine-hours during March.Required:1. Calculate the activity variances for March.2. Calculate the spending variances for March. Jok10htIncesRequired:1. 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 (1.e., zero variance). Input all amounts as positive values.)UtilitiesMaintenanceSuppliesIndirect laborDepreciationTotalFAB CorporationActivity VariancesFor the Month Ended March 31REM1. 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 2UtilitiesCalculate 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 ariance). Input all amounts as positive values.)FAB CorporationSpending VariancesFor the Month Ended March 31MaintenanceSuppliesIndirect laborDepreciationTotalRequired 2 >< Required 1Required 2

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