AutoSave OFF Budget project Q Search Sheet Home Insert Draw Page Layout Formulas Data Review View Share A . Conditional Formatting CA Format as Table ~ Paste Font Alignment Number Cells Cell Styles v Editing Ideas Sen Recover Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? B123 D E F 187 Problem 3: Variance Analysis (NEW Problem INFORMATION!) 188 Our company had the following data regarding direct materials and direct labor usage this year: 189 190 Direct Materials Purchased 119780 feet at a cost of $22 per foot 191 Direct Materials Used 119000 feet 192 Direct Labor Used 88700 hours at a rate of $19 per hour 193 Actual units produced 29700 units 194 195 The standards set by our company include the following: 196 Dirkt materials 4 feet at a cost of $23 per foot 197 Direct labor 3 hours used per unit at a cost of $ 16 per hour 198 Overhead 80% of direct labor cost 199 200 Calculate the direct material and direct labor variances and then comment on the results. 201 202 Direct Material Price Variance: 203 204 205 206 207 208 209 210 Direct Material Usage Variance: 211 212 213 214 215 216 217 218 Direct Labor Price Variance: 219 220 221 Project Settings + iT 9,545 DEC 32 9 MacBook A