After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March:Cost Formula Actual Cost in MarchUtilities $16,700 plus $0.15 per machine-hour $ 21,650Maintenance $38,100 plus $2.00 per machine-hour $ 73,900Supplies $0.40 per machine-hour $ 8,200Indirect labor $95,000 plus $1.20 per machine-hour $ 121,100Depreciation $67,900 $ 69,600During 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.