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Question - 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 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 determine the following cost formulas and gathered the following actual cost data for March:
Cost formula
Actual cost in March
Utilities
$16,400 + $0.20 per machine-hour
$23,000
Maintenance
$38,800 + $ 1.50 per machine-hour
$68,600
Supplies
$0.80 per machine - hour
$19,000
Indirect labor
$94,200 + $1.20 per machine-hour
$123,900
Depreciation
$68,300
$70,000
During March, the company worked 22,000 machine-hours and produced 16,000 units. The company had originally planned to work 24,000 machine-hours during March.
Required -
1. Calculate the activity variance for March?
2. Calculate the spending variances for March?
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