Part 6: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Variances tab), complete the following calculations.

Calculate the material variances.

Calculate the labor variances.

Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss your observations about the variances and ways to plan to improve any of the variances..

Cookie Business Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline \end{tabular}