Functions: IF: Formala: Multiply. Add, Subtract; Cell Referencing B6.13 - Using Excel to Calculate Variances PROBLEM The following infamination is available for Cardy's Chocolates: Actual production boxes Budgeted production, baxes 3.400 3.000 Student Work Aren Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work area as indicated. Use the IF function o denote if each variance is Favorable or Unfavorable. Calculate the direct materials price and quantity variances. Direct materials standards Pounds of chocolate per bax 3 $ 6.00 Cost per pound AQ AP Actual direct materials Pounds of chocolate purchased 9.000 Pounds of chocolate used 9.500 $ 6.10 Cost per pound b. AQ SP Direct Materials Price Varianc Direct Materials Quantity Variance What might have caused the variences you calculered? Coedy's Chocolater appears to beve purchased chocolate at a then the standard rpecified. The chocolate appears to have been proceed the renderd quality, requiring to complete the production run AQ SP SQSP