Chewy 2 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 systent 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 formules and gathered the following actual cost data for Marche Actual Coutin Cost Formula March Otities $16.700 + 50.20 per machine-hour $ 22,100 Maintenance 330,500 + $1.60 per machine-hour $61,100 fupplies $0.80 per machine-hour $ 14,200 Indirect labor 394.000+ $1.50 per machine-hour $121,900 Depreciation 368,200 $ 69,900 During March, the company worked 16,000 machine hours and produced 10,000 units. The company had originally planned to work 18,000 machine-hours during March Required: 1. Calculate the activity variances for March 2. Calculate the spending variances for March Required 1 Required 2 ok at Calculate the activity variances for March. (Indicate the effect of each unfavorable, and "None" for no effect (i.e., zero variance). Input all a ces FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total Required Required 1 Required 2 2 Calculate the spending variances for March. (Indicate the effect unfavorable, and "None" for no effect (i.e., zero variance). Inpu oces FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total