Saved Excel Simulation Ch 9 i 1. Compute the direct material, direct labor and variable overhead variances. x] H 6 . . . : Basic variance analysis for direct materials, direct labor and variable overhead - Excel ? 2 - X FORMULAS DATA REVIEW VIEW Sign In FILE HOME INSERT PAGE LAYOUT 9 points Calibr - 11 - A" A " % Conditional Format as Cell Cells Editing 8 Paste BIU- - - A - Alignment Number 01:27:58 Formatting Table Styles Clipboard Font Styles C28 X V fx Book B C D E F N Standard Standard Standard w Quantity Price/Rate Unit Cost Ask 4 Direct materials: 2.5 yards @ $8.00 per yard $20.00 5 Direct labor: 0.5 hours @ $18.00 per hour 9.00 6 Variable overhead (based on labor hours): 0.5 hours @ $10.00 per hour 5.00 References 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: Total Actual Cost 12 Direct Materials Purchased and Used 35,100 yards @ $7.00 per yard $245,700 13 Direct Labor Paid 7,425 hours @ $17.50 per hour $129,938 14 Variable Overhead Incurred 7,425 hours @ $12.00 per hour $89,100 15 Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for 16 the spending and volume variances so that variance will appear as a negative number if unfavorable and a positive number if favorable. 17 18 Spending Flexible Volume Master Actual Costs Variances Budget Variances Budget 19 Direct materials: $245,70 20 Direct labor: $129,938 21 Variable overhead: $89,100 Sheet1 ...+ READY Attempt(s) 100% 1/6 Hint MacBook Pro esc Q D @ # % 2 3 4 5 6 2 9 Q W E R T Y U