, Masik, Incorporated is analyzing its most current direct materials results against the budget. Here is the standard cost information: Direct Materials Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit $ 9.50 2 $ 19.00 Actual cost information is below: 1 Units Produced 2 Materials Purchased 4,000 8,500 Material Used 7,800 4 Cost of Direct Materials $ 85,000 Required: Fill in the cells below with required data for variance calculations and favorability. Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances. Direct Materials Variances Actual x Actual (used) AQ AP Actual x Standard (used) AQ SP Actual x Actual (purchased) AQ AP Materials Price Variance (used) Materials Price Variance (purchased) Actual x Standard (purchased) AQ SP Materials Quantity Variance Standard x Standard SP SQ