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 prepaning 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 in March S 21,800 S 63, 100 S 13,000 S 139.500 S 69,200 Cost Formula 516,700 plus $0.15 per machine-hour $38,500 plus $1.40 per machine-hour S0.60 per machine-hour 594,600 plus $2.00 per machine-hour S67,500 Utiines Supplies Incirect labor 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. Complete the report showing the activity variances for March. (Indicate the effect of each variance by selecting "F for favorable, "Ufor unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) FAB Activity Variances For the Month Ended March 31 Utiinies Maintenance Supplies Indirect labor Total 2. Complete the report showing 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., zero variance). Input all amounts as positive values.) Spending Variances For the Month Ended March 31 Utiines Maintenance Supplies Indirect labor Total