A7 fx Always use cell references and formulas where appropriate to receive full credit. E 6 H i Standard costs and Variances Calculate missing direct material variables I J M N P O R 5 T Last month, Talley Corporation purchased and used the same quantity of material in producing its aroduct, speed bumps for traffic control. 5 This spreadsheet includes 2 tabisyou will enter all answers on the second tab, ENTERANSWERS Al answers should be entered in the ble highlighted cells). 7 Always use cell references and formulas where appropriate to receive full credit 9 Requirement Complete the table in the ENTERANSWERS tabley ring in the missing information a. Use the Ausfunction when calculating variances, and use the drop-down selections for ForU when describing the variances. 12 b. Use cell references 13 14 Saving & Submitting Solution 15 Once completed, save the project and submit the excel file to Excel Assignment 1 on Blackboard as an attachment 26 37 Examale 19 As use cel references. Do not copy/postotype numbers directly. 20 Darble click on the call to view the order details. Dodele dicking and positivo edit mode and read 21 Direct materials Information Medium speed bump He will begin with colors 22 Standard pounds per unit 17 23 actual quantity per untTotal actual quantity/rumberont Standard price pound $1.00 - USP per pound x 50 per urk x number or unt + tobal DM vartacey Af per pound / number of unit 24 Actual quantity purchased and used per unit 12 Actual price paid for material per pound $1.80 26 Direct materials price variance $3.840 U 27 Direct materials quantity variance $ $2.000 F 28 Total direct material variance $1840 29 Number of units produced 400 30 Total DM varias prie Variance 3840 u + Quantity Valarca 2000 F 31 If we combre 1940 and 2000Ftogter, 2000 FIS grew enough to offset the 1042 Unfacomble portion. Thus 92 2819 U+2000 F-1840 U, using the absolute value function to calculate 1540Le, 2000). Double dick on the celto 33 View the cell reference and formulas. 34 35 36 17 38 19