Please do not give solution in image format thanku Cost FormulaUtilities$20,600+ $0.10 per machine-hourMaintenance $40,000+ $1.60 per machine-hourSupplies$0.30 per machine-hourIndirectlabor$130,000+ $0.70 per machine-hourDepreciation$70,000During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned towork 30,000 machine-hours during March.Required:1. Prepare a flexible budget for March.2. Prepare a report showing the spending variances for March.March$ 24,200$78,100$ 8,400$149,600$ 71,500Complete this question by entering your answers in the tabs below.Required 1 Required 2Prepare a flexible budget for March. (Input all amounts as positive values.)FAB CorporationFlexible BudgetFor the Month Ended March 31Machine-hoursUtilitiesMaintenanceSuppliesIndirect laborDepreciationTotalRequired 1Required 2 > After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March:ActualCost inMarch$ 24,200$78,100$ 8,400UtilitiesMaintenanceSuppliesIndirectlaborDepreciationCost Formula$20,600+ $0.10 per machine-hour$40,000+ $1.60 per machine-hour$0.30 per machine-hour$130,000+ $0.70 per machine-hour$70,000During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned towork 30,000 machine-hours during March.Required:1. Prepare a flexible budget for March.2. Prepare a report showing the spending variances for March.Complete this question by entering your answers in the tabs below.UtilitiesMaintenanceSuppliesIndirect laborDepreciationTotalRequired 1 Required 2Prepare a report showing the spending variances for March. (Indicate the effect of each variance by selecting "F" forfavorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)FAB CorporationSpending VariancesFor the Month Ended March 31$149,600$ 71,500H< Required 1

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Description: Please do not give solution in image format thanku Cost FormulaUtilities$20,600+ $0.10 per machine-hourMaintenance $40,000+ $1.60 per machine-hourSupplies$0.30 per machine-hourIndirectlabor$130,000+ $0.70 per machine-hourDepreciation$70,000During Mar

Variance arises when the actual costs differ from the standard costs. The results are favorable…

Business

Accounting

Cost Formula Utilities $20,600+ $0.10 per nachine-hour Maintenance $40,000+ $1.60 per machine-hour Supplies $0.30 per machine-hour Indirect labor Depreciation $130,000+ $0.70 per machine-hour $70,000 March $ 24,200 $ 78,100 $ 8,400 Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March. $149,600 $ 71,500 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March.

Cost Formula Utilities $20,600+ $0.10 per nachine-hour Maintenance $40,000+ $1.60 per machine-hour Supplies $0.30 per machine-hour Indirect labor Depreciation $130,000+ $0.70 per machine-hour $70,000 March $ 24,200 $ 78,100 $ 8,400 Required: 1. Prepare a flexible budget for March. 2. Prepare a report showing the spending variances for March. $149,600 $ 71,500 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 9PA: Carltons Kitchens makes two types of pasta makers: Strands and Shapes. The company expects to...

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