Just need to answer an explanation for the first required field that is pictured in the second picture.

You have just been hired by FAB Corporation, the manula 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 in Cost Formula March Utilities $16,800 $0.12 per machine-hour $ 21,240 Maintenance 538,200 + $1.20 per machine-hour $ 58,400 Supplies $0.50 per machine hour $ 10,500 Indirect labor $94,700 51.40 per machine-hour $126,400 Depreciation 568,000 $ 69,700 During March, the company worked 20.000 machine-hours and produced 14,000 units. The company nad originally planned to work 22,000 machine hours during March Required: 1 Calculate the activity variances for March Required 1 Required 2 Calculate the activity variances for March. (Indicate the effect of each variance by selecting "F" for fav. unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total