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 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: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $16,100 + $0.20 per machine-hour $38,800 + $1.30 per machine-hour $0.80 per machine-hour $94,100 + $1.99 per machine-hour $67,700 Actual Cost in March $ 21,300 $ 54,700 $ 13,400 $ 127,300 $ 69,400 During March, the company worked 15,000 machine-hours and produced 9,000 units. The company had originally planned to work 17,000 machine-hours during March. Required: 1. Calculate the activity variances for March. 2 Calculate the spending variances for March. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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.) FAB Corporation Activity Variances For the Month Ended March 31 IS 19,100 XF Utilities Maintenance 58,300 XF Supplies 12,000 XF Indirect labor 122.800 XF 67.700 None XXX O Depreciation Total IS 286,100 F