Answer questions 1-3. Please show work using excel formula

8:43 AM Tue Nov 3 80% IN G PA9-4 Calculating Direct Materials, Direct Labor, Variable Manufacturing Overhead Variances QLO 9-3, 09-4, 09-5 Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Standard Price Standard Unit Quantity (Rate) Cost Direct materials (cork board) 2.5 sq. ft. $2.00 per sq. ft. $5.00 Direct labor 1 hr. $14.00 per hr. 14.00 Variable manufacturing overhead (based on direct labor hours) 1 hr. $ 0.50 per hr. 0.50 Fixed manufacturing overhead ($40,000 - 160,000 units) 0.25 Bullseye has the following actual results for the month of September: Number of units produced and sold 140,000 Number of square feet of corkboard used 360,000 8:43 AM Tue Nov 3 Direct materials (cork board) 2.5 sq. ft. $2.00 per sq. ft. $5.00 80% Direct labor 1 hr. $14.00 per hr. 14.00 Variable manufacturing overhead (based on direct labor hours) 1 hr. $ 0.50 per hr. 0.50 Fixed manufacturing overhead ($40,000 = 160,000 units) 0.25 Bullseye has the following actual results for the month of September: Number of units produced and sold 140,000 Number of square feet of corkboard used 360,000 Cost of corkboard used $ 756,000 Number of labor hours worked 148,000 Direct labor cost $1,938,800 Variable overhead cost $ 72,000 Fixed overhead cost $ 50.000 Required: Calculate the following for Bullseye: 1. Direct materials price, quantity, and spending variances. 2. Direct labor rate, efficiency, and spending variances. 3. Variable overhead rate, efficiency, and spending variances. Safari 8:41 AM Tue Nov 3 Chapter 9 Lab - PA 9 - 5 & 6, page 430 Insert Draw Formulas Data Review Home abe . DI X This account does not allow editing on your device. For an account with full access, contact your organi fx c D G Chapter 9 Lab - PA 9-4&5, page 430 Enter formulas or descriptions in these fields 5 Given Data: Columnar Approach 2 APAQ SpSq*AV 9 Direct Materials Direct Labor VMOH based on DLHS FMOH ($40k/160K units Budgeted Units Standard Quantity 2.5 1 1 $40,000 160,000 Std. Price/ Std. Rate $2.00 $14 $0.50 Std. Unit Cost $5 $14 $0.50 $0.25 Square feet Per hour Per hour AQ * SP Material Actual at Standard AO SP 10 11 12 13 14 15 16 Actual Actual Flex. Bdgt. Or Standard SP Sq AV Fav Unfav Amount Fav/Unfav 17 18 19 20 21 Units produced and sold Num, sq. ft. corkboard used Cost of used corkboard Labor hours worked Direct labor cost Var. OH cost Fixed OH cost 140,000 360 000 $756,000 148,000 $1,938,800 $72,000 $50,000 Material Variances: Price Quantity Spending 22 Labor Actual at Standard AH. SR Actual Actual Flex Bdgt or Standard SR . Sh. AV 23 24 25 26 27 28 29 30 31 32 33 Amount Fav/Unfav Labor Variances: Rate Efficiency Spending 35 36 37 Variable Overhead Actual at Standard AH * SR Actual Actual Flex Bdgt or Standard SR + Sh * AV 38 39 40 42 Amount Fav/Unfav Variable OH Variance Rate Efficiency Spending 14 45 46 Fixed Overhead Master Budget Applied SR SHAV Actual 48 49 50 51 52 53 54 55 56 57 ER Fixed Overhead Variance Amount Fav/Unfav Spending Volume Total Sheet1