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 berter 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 excelient first stop in overhead planning and control. Atter much effort and anabsis, you determined the following cost formulas and gathered the following actual cost data for March: During March, the company worked 18,000 mochine-hours and produced 12,000 units. The company had originally planned to work 20,000 machine-hours during March. 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. 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 (0.e, zero varianco). Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. Calculate the spending variances for March. (Indicate the effect of ea of variance by selecting "F" for favorable, "U" for unfavorable "None" for no effect (i.e,-, zero variance), Input ali amounts as positive