Cont Formula in March 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: Actual Coat $16,500 + $0.20 per machine-hour $ 23,00 $38,000 + $2.00 per machine hour $0.70 per machine-hour $ 17,300 Indirect labor $94.400 + $1.10 per machine-hour 122,800 Depreciation $68,400 During March, the company worked 23,000 machine-hours and produced 17,000 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 vorlonces for March Utrition Maintenance Supplies $82,600 70,100 Complete this question by entering your answers in the tabs below. Required Required 2 Calculate the spending variances for March (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect ( ero variance). Inout all amount as positive values.) FAB Corporation Spending Variances Required i Required 2 Calculate the spending variances for March. (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance). Input-all amounts as positive values.) FAB Corporation Sponding Variances For the Month Endod March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total