AutoSave Off v Unit63Variance AnalysisDirectLabor_Question 10 - Excel daolvera5@gmail.com File Home Insert Draw Page Layout Formulas Data Review View Developer Help O Search Share Comments J11 G H I K M N O 0 R SA Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work area as indicated. Use the IF function to denote if each variance is Favorable or Unfavorable. a. AQ X AP AQ SP Direct Materials Price Variance AB D E F 1 Functions: IF; Formula: Multiply, Add, Subtract; Cell Referencing 2 3 E6.13 - Using Excel to Calculate Variances 4 PROBLEM 5 The following information is available for Coady's Chocolates: 6 7 Actual production, boxes 3,400 8 Budgeted production, boxes 3,000 9 Direct materials standards 10 Pounds of chocolate per box 3 11 Cost per pound $ 6.00 12 Actual direct materials 13 Pounds of chocolate purchased 9,000 14 Pounds of chocolate used 9,500 15 Cost per pound $ 6.10 16 17 a. Calculate the direct materials price and quantity 18 variances. 19 b. What might have caused the variances you calculated? 20 21 22 23 24 25 26 27 28 AQ - SP SQ SP Direct Materials Quantity Variance b