41 * f Function: I; Formula: Subtract, Multiply, Cell Referencing D Functbn: IF: Formula: Subtract, Multiply: Cell Referencing Using Excel to Determine Overhead Variances PROBLEM In October, Pine Company was determining its overhead variance. Its predetermined overhead rate is based on direct labor hours. The following Information was provided Student Work Area Required: Provide input into colis shaded in yellow in the template. Use cel references to the Problem area with mathematical formulas in the input cela In the last Input field, Input an IF function with col references to your work area Manufacturing overhead costs incurred Actual direct labor hours Standard hours allowed for work done Predatormined overhead rate $ 118,000 21,000 20,600 $ 6.00 Compute the amount of the total overhead variance and designate if the variance is favorable or unfavorable using Excel's IF function Actual overhead Overhead applied Total overhead variance Nature of variance