1. Compute the direct material, direct labor and variable overhead variances. Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for the spending and volume variances so that variance will 18 appear as a negative number if unfavorable and a positive number if favorable. 19 Note: Use cell A2 to A15 from the given information to complete this question. \begin{tabular}{ll|r|r|r|r|r|} \hline 21 & & Actual Costs & SpendingVariances & FlexibleBudget & VolumeVariances & Master Budget \\ \hline 22 & Direct materials: & $245,700 & & & & \\ \hline 23 & Direct labor: & $129,938 & & & & \\ \hline 24 & Variable overhead: & $89,100 & & & \\ \hline \end{tabular} Using the formulas provided, compute the following variances. Write if statements to enter an F or U to indicate whether the variance is favorable or unfavorable. Note: Use cell A2 to A15 from the given information to complete this