PLEASE ENTER THE ANSWER AND THE EXCEL FORMULA USED, EX: =F5+E8

A B D E F Standard Unit Cost $20.00 9.00 5.00 1 The standard cost card for a single unit of Robinson, Inc.'s products is shown below. 2 Standard Standard 3 Quantity Price/Rate 4 Direct materials: 2.5 yards @ $8.00 per yard 5 Direct labor: 0.5 hours @ $18.00 per hour 6 Variable overhead (based on labor hours): 0.5 hours @ $10.00 per hour 7 8 Budgeted production for the month 14,000 units 9 Actual production for the month 13,500 units 10 11 Actual Costs Incurred to Produce 13,500 units: 12 Direct Materials Purchased and Used 35,100 yards @ $7.00 per yard 13 Direct Labor Paid 7,425 hours @ $17.50 per hour 14 Variable Overhead Incurred 7,425 hours @ $12.00 per hour 15 Total Actual Cost $245,700 $129,938 $89,100 A B D E F 17 18 Spending Variances Flexible Budget Volume Variances Master Budget 19 Direct materials: 20 Direct labor: 21 Variable overhead: 22 Actual Costs $245,700 $129,938 $89,100 23 29 30 24 Using the formulas provided, compute the following variances. 25 Write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials: Variance For U 28 Price Variance = AQ * (SP-AP) Quantity Variance = SP * (SQ-AQ) Total Spending Variance 31 Direct Labor 32 Rate Variance = AH * (SR - AR) 33 Efficiency Variance = SR* (SH - AH) 34 Total Spending Variance 35 Variable Overhead Rate Variance = AH * (SR - AR) Efficiency Variance = SR* (SH - AH) Total Spending Variance 36 37 38