what isspending variance? Thank you.

Help Save & Exit Submit Salved Assignment 8 4 Week 8 Problems 0 Check my work Problem 9-20 Activity and Spending Variances [LO9-1, LO9-2, LO9-3] points 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. eBook After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Print References Actual Cost in March 20,680 Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $16,000 plus $0.12 per machine-hour $38,600 plus $1.90 per machine-hour $0.40 per machine-hour $94,000 plus $1.20 per machine-hour $68,200 78,000 9,400 123,700 69,900 Me Graw HII Prev 1 of 2 Next > De here to search 6:25 Assignment 8 4 Week 8 Problems Check my work 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 points Required: 1. Calculate the activity variances for March 2. Calculate the spending variances for March eBook Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Calculate the spending variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities Prev 1 of 2 Next > to search Apment WX > 0 https/ewconnect. meducation.com/flow/connect.ml Assignment 8-4 Week 8 Problems Help Save & Exit S Check my unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) points FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total eBook Print References