Session 20 i 2 Saved Help Save & Exit Submit 10 points eBook 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 preparing 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: Hint Utilities Print Maintenance Supplies References Indirect labor Depreciation Cost Formula $16,400 + $0.18 per machine-hour $38,500+ $1.30 per machine-hour $0.60 per machine-hour $94,800+ $1.20 per machine-hour $68,100 Actual Cost in March $ 21,440 $ 55,700 $ 10,600 $117,300 $ 69,800 During March, the company worked 16,000 machine-hours and produced 10,000 units. The company had originally planned to work 18,000 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 tabs below. Check my work Session 201 10 2 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. points Saved Help Save & Exit Submit Complete this question by entering your answers in the tabs below. Required 1 Required 2 eBook Hint Print References 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 Required 1 Required 2 > Check my work Session 20 i 2 10 points eBook Hint Print References 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. Saved Help Save & Exit Submit 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.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total < Required 1 Required 2 > Check my work