For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an= sign. 2. Reference cells, instead of entering values. Example: =B3+C3 McGraw Hill Check Ansv per pound) our) Legend Graded cel needed. Scratchpat workspace to do any additional work you need to solve this question or can be used to show your work. aded Worksheet (1) Compute the direct materials price and quiantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. (2) Compute the direct labor rate variance and the direct labor efficiency variance