You havejust 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 nd that the company has never used a exible budget, and you suggest that preparing such a budget would be an excellent rst 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 in March Utilities $16,836 + $3.]? per machinehour $ 22,510 Maintenance $33,560 + $1.46 per machinehour $ 54,560 Supplies $6.66 per machinehour 5 13,660 Indirect labor $94,960 + $2.00 per machinehour $ 141,866 Depreciation $63,683 5 59,?60 During Marchr the company worked 21,000 machinehours and produced 15,000 units. The company had originally planned to work 23,000 machinehours 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 labs 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.) Maintenance Supplies Indirect labor Depreci etio n Cost Formula in March Utilities 516,383 + 56.1? per machinehour 5 22,519 Maintenance 533,566 - 51.46 per machinehour 5 54,503 Supplies 56.66 per machine-hour 5 13,603 Indirect labor 594,980 - $2.08 per machinehour 5 141,803 Depreciation 563,333 5 69,?03 During March, the company worked 21,000 machinehours and produced 15,000 units- The company had originally planned to work 23,000 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 labs 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.) Maintenance .... ....--uhu. ...... ......l... ... -.... 1......u... r...n.........u 1...... ..u..-...... After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost Cost Formula in March Utilities $16,360 + $0.17 per machinehour $ 22,510 Maintenance $33,500 + $1.40 per machinehour $ 54,500 Supplies $0.66 per machinehour 5 13,600 Indirect labor $94,900 + $2.00 per machinehour 5 141,300 Depreciation $63,060 5 69,700 During March. the company worked 21,000 machinehours and produced 15,000 units. The company had originally planned to work 23,000 machinehours 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 labs below. Required 1 Required 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.) Maintenance Supplies Indirect labor Depreci atio n