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 $16,680 + $0.15 per machine-hour $38,388 + $2.00 per machine-hour $e.se per machine-hour $95,688 + $1.48 per machine-hour $67,880 Actual Cost in March $ 21,700 $ 76,100 $ 17,400 $126,7ee $ 69,5ee During March, the company worked 20.000 machine-hours and produced 14,000 units. The company had originally planned to work 22.000 machine-hours during March Required: 1. Calculate the activity variances for March. 2 Calculate the spending varlances for March. 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 Utilities Maintenance Supplies Indirect labor Depreciation Total You have just been hired by FAB Corporation, the manufacturer of a re/olutionary 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 cverhead costs." You fnd that the company has never used a fexbiz budget, and you suggest that preparing such a budget would be an excellent first step in cverhead planning and control. After much effort and analysis. you determirec the following cost formulas and gathered the following actual cost data for March: Utilities Mainterance Supplies Indirect abor Depreciation Cost Formula $15, 628 + $0.15 per nachire-hour $33,398 + $2.88 per nachire-hour $e.se per nachine-hour $95,898 + $1.40 per nacire-bour $67,990 Actual Cost in March $ 21,700 $ 76, 100 $ 17,460 $126,70 $ 69,500 During March, the company worked 20.000 machine-hours and produced 14,000 units. The company had originally planned to work 22.000 machine-hours during March Requlrec: 1. Calculate the activity variances for March. 2 Calculate the spending varlances for March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the spending variances for March. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None' for no effect (i.e, zarc variance). Input all amounts as positive values.) FAE Corporation Spending Variances For the Month Ende: March 31 Utilties Mantenance Supplies Indrect labor Depreciation Tota