Compute the direct material, direct labor and variable overhead variances.

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? Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign In 3 = Calibri %6 Paste BTU Cell 8.34 points Clipboard Font Alignment Number Conditional Format as Cells Formatting Table Styles Styles The standard cost card for a single unit of Robinson, Inc.'s products is shown A1 A B C D E F eBook Print 5 Roterences 1 ne standard Cost care for a single unit of Robinson, Inc.'s products is shown below. 2 Standard Standard Standard Quantity Price/Rate Unit Cost 4 irect materials: 2.5 yards e $8.00 per yard $20.00 irect labor: 0.5 hours @ $18.00 per hour 9.00 6 ariable overhead (based on labor hours): 0.5 hours $10.00 per hour 5.00 7 8 udgeted production for the month 14,000 units 9 ctual production for the month 13,500 units 10 11 ctual Costs Incurred to Produce 13,500 units: Total Actual Cost 12 irect Materials Purchased and used 35,100 yards @ $7.00 per yard $245,700 13 irect Labor Paid 7,425 hours @ $17.50 per hour $129,938 14 ariable Overhead incurred 7,425 hours e $12.00 per hour $89,100 15 omplete the following table comparing actual costs to the flexible budget and master budget. Use formulas for 16 je spending and volume variances so that variance will appear as a negative number if unfavorable and a ositive number if favorable 17 Spending Flexible Volume Master 18 Actual Costs Variances Budget Variances Budget 19 irect materials: $245,700 20 irect labor: $129,938 Sheet1 ? - FILE Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME Sign In 3 Calibri 11 AA Paste u Alignment Number Cells Conditional Format as Cell Formatting Table Styles Styles Clipboard 8.34 points Font G42 D F eBook Master Budget Print References B E 17 Spending Flexible Volume 18 Actual Costs Variances Budget Variances 19 Direct materials: $245,700 20 Direct labor: $129,938 21 variable overhead: $89,100 22 23 24 Using the formulas provided, compute the following variances. 25 write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials: Variance Foru 28 Price variance = AQ* (SP-AP) 29 Quantity Variance = SP (SQ-40) 30 Total Spending variance 31 Direct Labor 32 Rate variance = AHSR-AR) 33 Efficiency variance = SR (SH-AH) 34 Total Spending variance 35 Variable Overhead 36 Rate variance = AHSR-AR) 37 Efficiency variance - SR (SH - AH) 38 Total Spending variance 39 Sheet1