eBook Show Me How Office 365 " Direct labor variances Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,200 units used 61,700 hours at an hourly rate of $19.05 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. X Open spreadsheet What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. < a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance Favorable Unfavorable Unfavorable Feedback Check My Work Unfavorable variances can be thought of as increasing costs (a debit) Favorable variances can be thought of as decreasing costs (a credit Review View Help Editing Arial 10 B Av Currency E15 IF(C15FISERROR(FORMULATEXT(C15)), "Your answer should be a formula.", FORMULATEXT(C15))) 4 A B C D 1 Direct labor variances 2 3 The following data is provided for Bellingham Company 4 S DATA 6 Standard direct labor hours per unit 3 7 Standard hourly rate $21.00 Units produced 15,200 9 Actual labor hours used 61.700 10 Actual hourly rate $19.05 11 E 12 222 14 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 Amount 15 a Direct labor rate variance 16 b Direct labor time variance c Desct labor cost variance Formulas Data 8 G