Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? M N O P P 4 = A1 X fx Weekly Check-in Assignment #10 A B C D E F G H H K L 1 Weekly Check-in Assign Inent #10 Name 2 Flexible Budget 3 Due at 11:59 p.m. on Sunday, October 31, 2021 , 4 5 The Tracey Company produces a karate robe. For the month of May, the company had the following 6 information for their flexible budget: 7 8 Actual number of robes produced 2,000 robes 9 9 10 Direct material cost per robe $18.20 2.8 yards @ $6.50 per yard 11 12 Direc labor cost per robe $3.60 0.4 hours @ $9 per hour $ 13 14 Variable overhead cost per robe $1.20 0.4 hours @ $3 per hour 15 16 Required: 17 (1) Complete the flexible budget in column) below. All yellow cells must be a formula or cell reference. 18 19 (2) Complete the report below, indicating the spending variances and whether the variance is 20 Unfavorable (type in U) or Favorable (type in F). Variances should be shown as a postive number so 21 use the =ABS() in your formulas for column D. 22 23 24 25 You may type in U or Fin column G. I did these formulas for you so use them as a guide. 26 Actual Spending Flexible 27 Results Variance U/F Budget 28 29 Direct materials $36,000.00 $400.00 F $36,400.00 30 31 Direct labor $7,600.00 32 33 Variable overhead $3,800.00 34 35 36 Rubric: Each yellow cell is worth 2 points. 37 Each green cell is worth 1 point. 38 39 40