Renee's Rings manufactures college rings. Two models are produced: The Spirit model with a budgeted price of $680 and a standard variable cost of $380. The Chancellor model has a budgeted price of $1,380 and a standard variable cost of $580. At the beginning of the year, Renee estimated that she would sell 1,500 Chancellor rings and 8,500 Spirit rings. The actual results for the year showed that 1,100 Chanceilor rings were sold for total revenues of $1,353,000. A total of 6,600 Spirit rings were sold for revenues of $4,653,000 Required (a) Compute the activity variance for Renee's Rings for the year. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations.) Activity variance (b) Compute the mix and quantity variances for the year. (Indicato the offect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations.) Mix variance Quantity variance