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You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The presidenPrepare a flexible budget for March. (Indicate the effect of each variance by selecting F for favorable, U for unfavorabl

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Answer #1
FAB CORPORATION
Flexible Budget
for the month ended March 31
Utilities 21,580.00
Maintenance 68,600.00
Supplies 15,000.00
Indirect Labor 134,800.00
Depreciation 68,400.00
Total 308,380.00
FAB CORPORATION
Spending Variances
for the month ended March 31
Utilities 1770 F
Maintenance 6200 U
Supplies 200 U
Indirect Labor 900 F
Depreciation 1700 F
Total 10770

Working Note

Particulars Hours (Planned) Fixed Variable Variable Cost Flexible Budget Cost Actual Cost (Given In Question) Spending Variances F/U
Utilities 25000 16,330.00 0.21 5,250.00 21,580.00 23,350.00 1,770.00 F
Maintenance 25000 38,600.00 1.20 30,000.00 68,600.00 62,400.00 -6,200.00 U
Supplies 25000 0.00 0.60 15,000.00 15,000.00 14,800.00 -200.00 U
Indirect Labor 25000 94,800.00 1.60 40,000.00 134,800.00 135,700.00 900.00 F
Depreciation 25000 68,400.00 0.00 68,400.00 70,100.00 1,700.00 F
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