** Fill out the following excel file, show work**

2 The primary purpose of this assignment is to give you practice caleulating and explaining variances 3 Thevariances you need to calculate are described under the "requirements" heading below. 4 The secondary purpose of this assignment is to improve your proficiency in using Excel as a too Cost 5 for analysis (as opposed to a word processor). All yellow areas should contain formulas 6 referencing other cells, i.e., don't simply type the number $661,254 in cellE6. Rather, S661,254 7 enter the formula to calculate this number. Indicate whether variances are favorable (F) or 8 unfavorable (U). Actual Input Quantity x Budgeted Prica Usage Price Variance Efficiency Varieance 10 Paterson Awning manufactures awningsand uses a standard cost system. The company allocates 11 overhead based on the number of direct labor hours. The following are the company's cost and 12 standatds data: 13 14 Standards: 15 Direct Materials 16Yards per awning 17Price per yard 18 Direct Labor 19 Hours per awning 20 Rate per hour 21 Variable MOH standard rate per direct labor hour 22 Fixed MOH standard rate per direct labor hour 23 Total budgeted fixed MOH cost 24 25 Actual cost and data from the current month: 26 Number of yards purchased 27 Cost of yards purchased 28 Number of yards used 29 Number of awnings produced 30 Actual direct labor hours 31 Actual direct labor cost 32 Actual variable MOHH 33 Actual fixed MOH Actual Input Quantity x Budgeted Prica Cost 22.00 13.00 S168,175 5.00 S 15.00 S 8.00 S 6.00 S 63,500 Price Variance Efficieny Vaiance Flexible Budget Variance ariable Manufacturing Overhead Actual Input Quantity x Budgeted Prica 51,260 S 661,254 47,500 2,200 10,850 S 168,175 S 93,310 67.500 Cost Budget Allocated Spending Variance Efficiency Varience Flexible Budget Variance