18 0.41 points eBook Hint Print References Problem 9-18 (Algo) Activity and Spending Variances [L09-1, L092, L09-3] You havejust been hired by FAB Corporation, the manufacturer ofa 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 flexible 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 $16,400 + $0.15 per machinehour $ 21,200 Maintenance $38,300 + $1.10 per machinehour $ 54,100 Supplies $0.80 per machinehour $ 15,800 Indirect labor $94,700 + $1.60 per machinehour $ 127,600 Depreciation $67,700 $ 69,400 During March, the company worked 18,000 machinehours and produced 12,000 units. The company had originally planned to work 20,000 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 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.) Complete this question by entering your 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.) Utilities Maintenance Supplies Indirect labor Depreciation Total Complete this question by entering your answers in the tabs 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.) Utililies Maintenance Supplies Indirect labor Depreciation