AutoSave OFF Home Insert Draw P Layout Formulas Chapter11Homework Question6 Data Review View Tell me X Liberation Sans 3 12 AA % V Paste 1450 Alignment Number Conditional Formatting Format as Table Cell Styles Share Comments A1 Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. fx Function: IF; Formula: Subtract, Multiply; Cell Referencing 1 Function: IF; Formula: Subtract, Multiply; Cell Referencing 3 Using Excel to Determine Overhead Variances 4 PROBLEM In October, Pine Company was determining its overhead variance. Its predetermined overhead rate is based on direct labor hours. The following 7 information was provided Student Work Area Cells Editing Analyze Data Yes No Check for Updates Required: Provide input into cells shaded in yellow in this template. Use cell references to the Problem area with mathematical formulas in the input cells. In the last input field, input an IF function with cell references to your work area. B " 30 Manufacturing overhead costs incurred Actual direct labor hours $ 118,000 11 12 Standard hours allowed for work done Predetermined overhead rate 21,000 20,600 $ 6.00 13 24 16 17 18 19 20 21 22 wet 23 24 25 26 27 28 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 i Nature of variance 6