7 2 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. After much effort and anglysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in Cost Formula March Utilities $16,200 plus $0.13 per machine-hour $ 20,600 Maintenance $38,600 plus $1.40 per machine-hour $ 60,400 Supplies $0.90 per machine-hour $ 17.800 Indirect labor $94,600 plus $1.70 per machine-hour $129.500 Depreciation $68,500 $ 70,200 eBook Print References During March, the company worked 18,000 machine-hours and produced 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. Required 1 Required 2 favorable us for 7 Help During Marcn, the company workea 18,000 machine-nours and produced 12,000 units. The company naoonginally planned to work 20,000 machine-hours during March. Required: 1. Calculate the activity variances for March 2. Calculate the spending variances for March 2. points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print References 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 (.e., zero variance). Input all amounts as positive values.) FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total Required 2 > 7 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. aints Required 1 Required2 eBook 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.) Print References FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total