Required: Compute the company's activity variances for May. (Hint: Refer to Exhibit 9-6.) EXERCISE 9-8 Planning Budget L09-1 Wyckam Manufacturing Inc. has provided the following estimates concerning its manufacturing costs: Direct materials Direct labor Supplies Utilities Depreciation Insurance Fixed Cost Cost per per Month Machine-Hour S36,800 Sl ,400 S16,700 700 S4.25 so.30 so.05 For example: utilities should be Sl.400 per month plus SO. 0S per machine-hour. The company expects to work 5,000 machine-hours in June. Note that the company's direct labor is a fixed cost Required: Using Exhibit as your guide: prepare the company 's planning budget for June.