ChQHwo points eBook Hint Prim References Saved Help Problem 9-18 (Algo) Activity and Spending Variances [L09-1, L09-2, L09-3] You havejust 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: Actual Cost Cost Formula in March Utilities $16,600 + $0.17 per machine-hour $ 22,140 Maintenance $38,800 + $1.60 per machine-hour $ 57,800 Supplies $0.30 per machine-hour $ 6,400 Indirect labor $94,300 + $1.60 per machine-hour $ 130,900 Depreciation $63,400 5 70,100 During March, the company worked 20,000 machinehours and produced 14,000 units. The company had originally planned to work 22,000 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 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.) Save & Exit Submit 3 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 points Required 1 Required 2 egk 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.) Hint GI ... Print Utilities Maintenance ll:- Supplies REfe'ences Indirect labor Depreciation Required 2 > 3 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 points Required 1 Required 2 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.) FAB Corporation Hint Spending Variances For the Month Ended March 31 Print Utilities Maintenance Supplies References Indirect labor Depreciation Total