Direct labor variances Bellingham Company produces a product that requires standard direct labor hours per whit at a standard hourly rate of $20.00 per hour. 15.000 units sed 63.300 hours at an hourly rate of $19.75 per hour This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below Open spreadsheet What is the direct labor(a)tate variance, (by time variance, and (c) cost variance? Round your answers to the nearest dollar, Enter a favorable arance a negative number using minus sign and an unfavorable vacance as a poutive number. 3. Direct laborate variance Favorabile b. Direct labor time variance Unfavorable Direct labor cost variance Unfavorable Oh My Wor Unfavorable variances can be thought of an increasing costa deb)Favorte variances can be thought of as decreasing costs incredi The labor cost variance is the difference between the actual and standard labor cott Previous Check My Work 3 1 Direct labor variances 2 3 The following data is provided for Bellingham Company: 4 5 DATA 6 Standard direct labor hours per unit 7 Standard hourly rate $20.00 8 Units produced 15.900 9 Actual labor hours used 63,300 10 Actual hourly rate $19.75 11 Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:017. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate 12 fields in CNOWV2 for grading 13 14 Amount Formulas 15 a. Direct labor rate variance 16 b. Direct labor time variance 17 c. Direct labor cost variance 18