F D 1 Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in 2 numbers format will receive a 0. 3 4 DIRVAR Student Name => 5 Section Number => 6 7 B D E 8 9 6 Data Section: 10 7 11 8 Materials price variance input 12 9 Actual cost of material per pound (ounce, etc.) $15.90 13 10 Standard cost of mat. per pound (ounce, etc.) $16.00 14 11 15 12 Materials quantity variance input 16 13 Actual quantity of materials used 39,500 12 14 Standard quantity of mat. used for actual output 38,000 18 15 19 16 Labor rate variance input 20 17 Actual cost of labor per hour 21 18 Standard cost of labor per hour $8.05 22 19 $8.00 23 20 Labor efficiency variance input 24 21 Actual quantity of hours incurred 25 22 Standard quantity of hours for actual output 44,000 26 45,600 27 24 28 25 Answer Section: 29 26 Indicate 30 27 31 28 Material price variance 32 FORMULA1 29 Material quantity variance SELECT ONE FORMULA2 30 SELECT ONE 34 31 Total materials variance 35 32 FORMULA3 SELECT ONE 36 33 Labor rate variance 37 34 Labor efficiency variance FORMULA SELECT ONE 3a 35 FORMULAS SELECT ONE 39 36 Total labor variance 40 37 FORMULAG SELECT ONE 41 38 Total materials and labor variances 42 39 FORMULA7 43 40 44 45 23 For U only 33 ON NO Data set #2 Inputs: Data Section: Materials price variance input Actual cost of material per pound (ounce, etc.) Standard cost of mat. per pound (ounce, etc.) $16.10 $16.00 Materials quantity variance input Actual quantity of materials used Standard quantity of mat. used for actual output 39.500 39,000 Labor rate variance input Actual cost of labor per hour Standard cost of labor per hour $8.10 $8.20 Labor efficiency variance input Actual quantity of hours incurred Standard quantity of hours for actual output 46,000 45,600 Check figure (Total materials and labor variances) "$10,630