2 5 points Toblems Seved 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 Book Hint Utilities Maintenance Ack Supplies $16,400 $38,400 Cost Formula $0.13 per machine-hour $1.20 per machine-hour $0.60 per machine-hour Actual Cost in March $20,000 $ 56,200 $ 11,800 $119,300 Print References Indirect labor Depreciation $94,400 $1.20 per machine-hour $67,600 $ 69,300 During March, the company worked 18,000 machine-hours and proced 12.000 units. The company had originally planned to work 20,000 machine-hours during March Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. Complete this question by entering your answers in the tabs below. 5 Complete this question by entering your answers in the tabs below. Required 1 Required 2 points eBook Hint Calculate the activity 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 Activity Variances For the Month Ended March 31 Ask Print Utilities Maintenance References Supplies F Indirect labor F Depreciation F Total F Required 2 > Complete this question by entering your answers in the tabs below. hts eBook Hint Ask 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 Print Utilities Corances Maintenance: Supplies Indirect labor Depreciation Total