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 Morch: Actual Cost in March $ 20,560 Cost Formula Utilities $16,180 + $0.14 per machine-hour Maintenance $38,300 + $1.2e per machine-hour Supplies $8.30 per machine-hour Indirect 594,980 - $1.40 per labor machine-hour Depreciation $67,800 $ 54,900 $ 5,500 5122,400 $ 69,500 During March, the company worked 17,000 machine hours and produced 11000 units. The company had originally planned to work 19.000 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. Required 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 (ezero variance). Input all amounts as positive values.) Show less FAB Corporation Activity Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total Required 2 > acBook Air Dil 28 DD F9 F10 511 the tabs below. Required Required 1 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., zero variance). Input all amounts as positive values.) Show less FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total