Problem 9.23 (Algo) Flexible Budgets and Spending Variances [LO9-1, LO9-2] 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 formulas and gathered the following actual cost data for Morch: During March, the company worked 19,000 machine-hours and produced 13,000 units. The campany had originaly planned to work 21,000 machine-hours during March. Required: 1. Prepare a flexible budget for March. 2. Prepare a report showng the spending variances for March. Complete this question by entering your answers in the tabs below. Prepare a flexible budget for March. (Input all amounts as posit ve values.) 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. Prepare a flexible budget for March. (Input all amounts as positive values.) 21,000 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. Prepare a report showing the spending variances for March. (Irindicate the effect of each varisnce by selecting "F for fovorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input sil amounts as positive vilues.)