Excel SIM: Basic Variance Analysis and the Impact of Variances on Unit Costs 1. Compute the direct materials price and quantity variances and explain their significance. 2. Compute the direct labor rate and efficiency variances and explain their significance. 3. Compute the variable manufacturing overhead rate and efficiency variances and explain their significance. ? - 5 Basic Variance Analysis and the Impact of Variances on Unit Costs - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign In Calibri 11 Paste B I U | A % Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles fax Standards for one of Patterson, Inc.'s products is shown below, along with actual Clipboard Font