Chec 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 Cost Formula Utilities $16,100 + 50.17 per sachine-hour Maintenance $38,900 - $2.00 per machine-hour Supplies 50.70 per machine-hour Indirect labor 594,700 - $1.30 per machine-hour Depreciation $68,000 Actual Cost in March 5.22,150 $ 82,700 5. 17.300 $128, 100 5 69,700 During March, the company worked 23.000 machine hours and produced 17000 units. The company had originally planned to work 25,000 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 tabu below. Required 1 Required 2 Calculate the activity variances for March (Indicate the effect of each vanance by selecting for tvorable, "ro unfavorable, and None for no effect it, zero variance) Inout all amounts as positive values FAB Corporation Activity Varianca or the Month Ended March 31 Utilities Maintenance Supplies