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 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: cost formula actual cost in march utilities $17,000 plus $0.11 per machine-hour $ 20,890 maintenance $38,500 plus $2.10 per machine-hour $ 72,200 supplies $0.50 per machine-hour $ 9,300 indirect labor $94,100 plus $1.50 per machine-hour $ 123,500 depreciation $67,600 $ 69,300 during march, the company worked 17,000 machine-hours and produced 11,000 units. the company had originally planned to work 19,000 machine-hours during march. required: 1. prepare a flexible budget for march. (indicate the effect of each var