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 con 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 gothered the following octual cost data for March: 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. Caloulate the activity variances for March. (Indicate the ettect of eadi variance by solecting "f" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance), Input all amounts as positive values.) You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president he asked that you review the company's costing systern 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 b 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: During March, the company worked 16,000 machine-hours ond produced 10,000 units. The compony 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. Caloulate the soending variances for March. (Indicate the effect of cach variance by selecting "E" for favorable, "U" for unfavorable, and "None for no effect (tie,, zero variance), Input al amounts as positive values.)