• Calculate the material variances.
• Calculate the labor variances.

Complete your calculations by fillingin thehighlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss your observations about the variances and ways to plan to improve any of the variance

Cookie Business Actual Cost of Direct Materials S 225,000 Standard Cost of Direct Materials S 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate S 15.50 Standard Labor Rate S 15.00 Actual Hours Worked 45 Standard Hours Worked :10 Favorable} Amount Uniavora ble Calculate MaterialsVariances: Materials Price Variance Materials uantitVVariance Calculate Labor Variances: Labor Rate Variance Labor Efficiencyr Variance