How do I solve this accountin problem? Please try to use as much detail as possible about where the numbers come from.

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 March Actual Cost in Cost Formula March Utilities $16,600 plus 58.16 per machine-hour 20,960 Maintenance $38,808 plus $1.60 per machine-hour 58,200 Supplies 58.60 per machine-hour 9,400 $94,900 plus 51.90 per machine-hour 126,200 Depreciation $67,900 $ Indirect labor $ 69,600 During March, the company worked 14,000 machine-hours and produced 8,000 units. The company had originally planned to work 16,000 machine-hours during March Required: 1. Prepare a flexible budget for March 2. Prepare o report showing the spending variances for March Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a flexible budget for March. (Input all amounts as positive values.) FAB Corporation Flexible Budget For the Month Ended March 31 Machine-hours Utilities Maintenance Supplies Indirect labor Depreciation Total Required Required 2 >