cises/Problems 6 Saved You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device.1T 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 co an excellent first step in overhead planning and control. mpany has never used a flexible budget, and you suggest that preparing such a budget would be After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in March 21,550 67,600 $ 6,100 $122,600 69,700 Cost Formula Utilities Maintenance Suppliers $16,600 plus $0.15 per machine-hour $38,100 plus $1.70 per machine-hour $0.30 per machine-hour ect labor 94,400 plus $1.30 per machine-hour Depreciation $68,000 During March, the company worked 19,000 machine-hours and produced 13,000 units. The company had originally planned to work 21,000 machine-hours during March. Required 1. Calculate the activity variances for March. 2. Calculate the spending varlances 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 errect (i.e., zero variance). Input all amounts as positive values.) Activity Variances For the Month Ended March 31 Utiities Supplies Indirect labor Depreciation Total Required 2 Actual Cost in March 21,550 S 67,600 $ 6,100 Cost Formula Utilities Maintenance Supplies 16,600 plus $0.15 per machine-hour 38,100 plus $1.70 per machine-hour $0.30 per machine-hour Indirect labor. $94,400 plus $1.30 per machine-hour$122,600 Depreciation $68,000 69,700 During March, the company worked 19,000 machine-hours and produced 13,000 units. The compan 21,000 machine-hours during March. Required: . 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 spending variances for March. (Indicate the effect of each variance by selecting "F" for favorai 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 Utilities Maintenance Supplies Indirect labor Depreciation Total ed Required 1