2 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: 3 4 Direct materials: 5 Standard 6 Actual 7 Direct labor 8 Standard 9 Actual 10 Variable overhead: 11 Standard 12 Actual 13 Total cost per unit 2.4 yards 3.0 yards $2.75 per yard $2.70 per yard $6.60 $8.10 0.6 hours $18.00 per hour 10.80 0.5 hours@ $22.00 per hour 11.00 0.6 hours 0.5 hours@ $7.00 per hour $7.10 per hour 4.20 3.55 $21.60 $22.65 $1.05 14 Excess of actual cost over standard cost per unit 15 16 Actual production for the month 13,500 units 17 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. 18 19 Required: 20 Using formulas, compute the following Input all numbers as positive amounts 21 (Hint: This can be done using the ABS function). 22 23 24 (Use cells A5 to G16 from the given information to complete this question. All formulas must return positive values. For each variance, select either "Favorable" or "Unfavorable". 25 26 Standard Cost Variance Analysis-Direct Materials 27 Standard Quantity Allowed for Actual Output at Standard Price =Graded Worksheet +