Direct labor variances 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 a positive number. a.Directlaborratevarianceb.Directlabortimevariancec.Directlaborcostvariance$$XXX Feedback Theck My Work Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit). The labor cost variance is the difference between the actual and standard labor cost. The following data is provided for Bellingham Company: 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:D17. Transfer the numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWv2 for grading