Help 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 an excellent first step in overhead planning and control. 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 k Cost Formula March $ 20,720 53,700 10,600 $114,800 69,700 Utilitie Maintenance Supplies Indirect labor Dopreciation $16,400 plus $0.14 per machine-hour $38,300 plus $1.20 per machine-hour $0.60 per machine-hour $94,100 plus $1.10 per machine-hour $68,000 nces 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prev 7 of 7 Next 74% here to search Search LLIBLE BUDGETS i Saved 7 2. Calculate the spending variances for March. Complete this question by entering your answers in the tabs below. nts Required 1 Required 2 eBook 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.) Print eferences FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total Required 1 Required 2