You have just been hired by FAB Corporasion, 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 fexible budget, and you suggost that preparing such a budget would be an excellent first stop in overhead planning and control Ater much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost Cost Formula in March $16,500 plus $0.16 per machine-hour $ 21,980 Maintenance $38,300 plus $2.00 per machine-hour $ 78,100 S 13,600 Utiies Supplies $0.60 per machine hour Indirect labor Depreciation $67,500 $94,800 plus $1.20 per machine-hour $ 123,300 69,200 During March, the company worked 21,000 machine-hours and produced 15,000 units. The company had originally planned to work 23,000 machine-hours during March Required: 1. Complete the report showing the adtivity variances for March. (Indicate the eflect 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.) Activity Variances For the Month Ended March 31 Utlities Supplies Indirect labor Depreciation Total 2. Complete the report showing the spending variances for March. (indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., zeto variance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Ublities Maintenance Supplies Indirect labor Total