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 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 help us get better control of our manufacturing After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in March Cost Formula $16,000 plus $0.21 per Utilities 22,210 machine-hour $38,800 plus $1.60 per machine-hour $0.70 per machine-hour $94,500 plus $2.00 per 66,200 Maintenance 14,500 Supplies Indirect S 137,400 labor machine-hour S 69,900 Depreciation $68,200 During March, the company worked 19,000 machine-hours and produced 13,000 units. The company had originally planned to work 21,000 machine-hours during March Required: 1. Calculate the activity variances for March 2 Calculate the spending variances for March. Complete this question by entering ur 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 ro. JO