1. Compute the direct materlals price and quantity varlances and explain their significance. 2. Compute the direct labor rate and efficlency varlances and explain their significance. Indicate whether the variances are F or U. Write if statements for variance cells F30 to F47. Use cell 22 references (formulas) for cells D53 - D60. Enter an F or U to indicate the correct variance in cells F54 to F62. \begin{tabular}{|l|l|l|l|} \hline 23 & & & \\ \hline 25 & & & \\ \hline 26 & Standard Cost Variance Analysis - Direct Materials \\ \hline 27 & Standard Quantity Allowed for Actual Output at Standard Price & \\ \hline 28 & Actual Quantity of Input, at Standard Price \\ \hline 29 & & \\ \hline 30 & Materials quantity variance & \\ \hline 31 & Materials price variance & \\ \hline 32 & & \\ \hline 33 & Standard Cost Variance Analysis - Direct Labor \\ \hline 34 & Standard Hours Allowed for Actual Output at Standard Rate \\ \hline 35 & Actual Hours of Input, at Standard Rate \\ \hline 36 & Actual Hours of Input, at Actual Rate \\ \hline 37 & & \\ \hline 38 & Labor efficiency variance & \\ \hline 39 & Labor rate variance & \\ \hline 40 & & \\ \hline \end{tabular}