please complete the excel portion

Direct Materials Variance Filler Uner Total Price variance: Actual price Standard price Variance Actual quantity Direct materials price variance-ffavorable) unfavorable Quantity variance: Actual quantity used Standard quantity used Variance Standard price Direct materials quantity variance-(favorablo) unfavorablo Total direct materials cost variance-(favorable) unfavorable Total direct materials cost variance: Actual cost Standard cost Total direct materials cost variance (favorable) unfavorable Supporting calculations: Total Standard quantity used of fleer Coats produced Standard amount per coat (lbs.) Total Standard quantity used of liner: Coats produced Standard amount per coat (yds.) Total b. Tirne variance Actual time Standard time Varlance Standard rate Direct labor time variance -(favorable) unfavorable Total direct labor cost variance-(tavorable) unfavorable Total direct labor cost vartance: Actual cost Standard cost Total direct labor cost variance-(favorable) unfavorable 2. [Key essay answor here] PR 23-2B Flexible Budgeting and Variance Analysis Obj. 1, 2, 3 I'm Really Cold Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available: Im Really Cold Coat Company does not expect there to be any beginning or ending inventories of filler and lining material. At the end of the budget year, I'm Really Cold Coat Company experienced the following actual results: 1. Prepare the following variance analyses for both coats and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price, quantity, and total variance. Answer: Check Figure: Direct materials price variance, $12,220U b. Direct labor rate, time, and total variance. 2. Why are the standard amounts in part (1) based on the actual production at the end of the year instead of the planned production at the beginning of the year? Direct Materials Variance Filler Uner Total Price variance: Actual price Standard price Variance Actual quantity Direct materials price variance-ffavorable) unfavorable Quantity variance: Actual quantity used Standard quantity used Variance Standard price Direct materials quantity variance-(favorablo) unfavorablo Total direct materials cost variance-(favorable) unfavorable Total direct materials cost variance: Actual cost Standard cost Total direct materials cost variance (favorable) unfavorable Supporting calculations: Total Standard quantity used of fleer Coats produced Standard amount per coat (lbs.) Total Standard quantity used of liner: Coats produced Standard amount per coat (yds.) Total b. Tirne variance Actual time Standard time Varlance Standard rate Direct labor time variance -(favorable) unfavorable Total direct labor cost variance-(tavorable) unfavorable Total direct labor cost vartance: Actual cost Standard cost Total direct labor cost variance-(favorable) unfavorable 2. [Key essay answor here] PR 23-2B Flexible Budgeting and Variance Analysis Obj. 1, 2, 3 I'm Really Cold Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available: Im Really Cold Coat Company does not expect there to be any beginning or ending inventories of filler and lining material. At the end of the budget year, I'm Really Cold Coat Company experienced the following actual results: 1. Prepare the following variance analyses for both coats and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price, quantity, and total variance. Answer: Check Figure: Direct materials price variance, $12,220U b. Direct labor rate, time, and total variance. 2. Why are the standard amounts in part (1) based on the actual production at the end of the year instead of the planned production at the beginning of the year