Excell formulas please

G11 V X fx H A B D E F F G 1 Problem 4: Direct Material and Direct Labor variances 2. Relevant Formulae 3 Happy Garden Inc. manufactures big recycled pots in a small manufacturing facilitiy DM Price Variance = (Actual Price 4 The pots are made from degradable plastic. Happy Garden has 55 employees 5 Each employee presently provides 38 hours of labor per week. DM Quantity Variance= (Actual Qu 6 Information about a production week is as follows: Total DM Cost Variance = DM Pric 7 DL Rate Variance = (Actual Rate - 8 Standard wage per hour $15.00 9 Standard labor time per unit DL Time Variance = (Actual Hours 30 minutes 10 Standard number of yards. of plastic per unit 1.5 yards Total DL Cost Variance = DL Rate 11 Standard price per yard of plastic $5.00 12 Actual price per yard of plastic $5.50 13 Actual yards of plastic used during the week 6,500 yards 14 Number of units produced during the week 5,000 units 15 Actual wage per hour $17.00 16 Actual hours for the week (55 employees x 38 hours) 2,090 hours 17 18 Required: 19 20 A. Determine the followings Material Variances and indicate if they are "favorable" or "unfavor Use Excel formula of show your we Siddique, Salina: 21 22 Direct Materials Price Variance 23 24 25 Direct Materials Quantity Variance 26 27 28 Total Direct Materials Cost Variance 29 30 31 B. Determine the followings Labor Variances and indicate if they are "favorable" or "unfavorab Use Excel formula or show your wor Siddique. Salina: 32 33 Direct Labor Rate Variance: 34 35 36 Direct Labor Time Variance: 37 38 39 Total Direct Labor Cost Variance: 40 41 42 C. Write two possible reasons for favorable direct labor time (also known as efficiency) variance 43 44 Answer 45 46 g=% Variance1 Ready Accessibility: Good to go 55F Cloudy Relevant Formulae DM Price Variance = (Actual Price - Standard Price) x Actual Quantity for Actual production DM Quantity Variance= (Actual Quantity - Standard Quantity) for Actual Production x Standard Price Total DM Cost Variance = DM Price variance + DM Quantity variance DL Rate Variance = (Actual Rate - Standard Rate) x Actual Hours for Actual Production DL Time Variance = (Actual Hours - Standard Hours) for Actual Production x Standard Rate Total DL Cost Variance = DL Rate Variance + DL Time Variance