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 Actual Cost Cost Formula Utilities S20,000 plus 50.10 per machine-hour S 24,200 Maintenance S40,000 plus S1.00 per machine-hour S 78,100 8,400 Suppl 50.30 per machine-hour Indirect labor $130,000 plus 50.70 per machine-hour S 149,600 71,500 Depreciation $70,000 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March. Required 1. Complete the report showing 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 Uilties Maintenance Supplies Indirect labor Depreciation Total