Function: IF; Formula: Subtract, Multiply; Cell Referencing
Some cells are merged.
Using Excel to Determine Overhead Variances					Student Work Area
PROBLEM					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.
In October, Pine Company was determining its overhead variance. Its predetermined overhead rate is based on direct labor hours. The following information was provided.
(A1)	(B1) Manufacturing overhead costs incurred	(C1) $ 118,000	(D1)	(E1)	(F1)	(G1)	(H1)
(A2)	(B2) Actual direct labor hours	(C2) 21,000	(D2)	(E2)	Compute the amount of the total overhead variance and designate if the variance is favorable or unfavorable using Excel's IF function.
(A3)	(B3) Standard hours allowed for work done	(C3) 20,600	(D3)	(E3)
(A4)	(B4) Predetermined overhead rate	(C4) $ 6.00	(D4)	(E4)	(F4)	(G4)	(H4)
(A5)	(B5)	(C5)	(D5)	(E5)	(F5)	Actual overhead	(H5)
(A6)	(B6)	(C6)	(D6)	(E6)	(F6)	Overhead applied	(H6)
(A7)	(B7)	(C7)	(D7)	(E7)	(F7)	Total overhead variance	(H7)
(A8)	(B8)	(C8)	(D8)	(E8)	(F8)	(G8)	(H8)
(A9)	(B9)	(C9)	(D9)	(E9)	(F9)	Nature of variance	(H9)

Please provide excel formulas for these solutions. I couldn't figure out how to format the question in excel so I put the cell numbers in just so I can understand where each number is coming from. I just need the functions for actual overhead, overhead applied, total overhead variance, and nature of variance. I realize this could have been asked better. Thanks!