I need help with this assigment, mostly with part B, if you could provide formulas for the answers it would be great

Project #8: Standard Costs (60 Points D G Bikes "R"Us manufactures metal frames for mountain bikes. The standard cost per unit of the product is shown below Direct Materials - 5 pounds of metal at $10 per pound SSO Direct Labor - 2 hours at $15 per hour $30 Variable Manufacturing Overhead $15 Fixed Manufacturing Overhead $8 Total Standard Cost Per Unit $103 The predetermined manufacturing overhead rate is $15 per direct labor hour ($30.002) It was computed from a master manufacturing overhead budget based on normal production of 20,000 direct labor hours (10,000 units) for the month. The master budget showed total variable costs of $95.000 (54 75 per hour) and total foed overhead costs of $50,000 ($2.50 per hour) Actual costs for October in producing 8,000 units were as follows Direct Materials (45,000 pounds) $ 390,000 Direct Labor (15,000 hours) 250,000 Variable Overhead 200.000 Fixed Overhead 120.000 Total Manufacturing Costs $ 980.000 The purchasing department buys the quantities of raw materials that are expected to be used in production each month Raw materials Projects BSB 1 26 The purchasing department buys the quantities of raw matenals that are expected to be used in production each month Raw materials 27 inventores, therefore, can be ignored 28 29(a) Compute all of the material variances (20 points) 30 NOTE: In order to receive full credit, you must use Excel formulas in each cell with a 32 (b) Compute all of the labor variances (20 points) 39 NOTE: In order to receive full credit, you must use Excel formulas in each cell with a '?'. 34 35 (c) Compute the total overhead variance. (15 points): 16 NOTE: In order to receive full credit, you must use Excel formulas in each call with a ? 1 (d) Answer the following questions (5 points): 19 (1) What is the total Variance? (2) What are some causes of material variances? (3) What are some causes of labor variances? (4) What are some causes of Overhead variances? 29 41 44 Answer parts (a), (b), (c), and (d) in the cells below. 45 UPLOAD YOUR COMPLETED SPREADSHEET TO CANVAS TO SUBMIT YOUR ASSIGNMENT IF YOU ARE USING A DIFFERENT SPREADSHEET SOFTWARE OTHER THAN MICROSOFT EXCEL CONVERT THE FILE TO A MICROSOFT EXCEL FORMAT BEFORE UPLOADING OR YOU WILL RECEIVE A ZERO FOR Project Type toch (Round to 2 decimal) (Round to 2 decima) 67 (b) Compute all of the labor variances GB 69 Actual Hours 15,000 70 Actual Rate $ 16.67 71 Standard Hours 16,000 72 Standard Rate $ 15.00 73 74 Amount 75 Actual Cost ? 76 Standard Cost ? 77 78 Amount 79 Total Labor Variance ? 80 Labor Price Variance ? 81 Labor Quantity Variance ? 82 (c) Compute the total overhead variance 84 5. Actual Overhead $ 320.000 Project Favorable Unfavorable REMEMBER YOU ule formules in the cells with a Tor you receive to points Select an answer Select an answer (Select an answer (15 Points) REMEMBER TO De 45Goudy 30 (c) Compute the total overhead variance 114 as Actual Overhead 320,000 06 Overhead Applied ? 87 118 Amount bo Total Overhead Variance REMEMBE You e formidabels with a Pory receive Favorable/Unfavorable (Select an answer) 90 91 16 Point 93 RIME 22 (d) Answer the following questions below (1) What is the total Variance (use a formula to calcluate in the yellow shaded cell below) (2 points)? Total Variance Select an answer 05 Amount Favorable/Unfavorable with or you will 96 97 09 100 101 102 103 (2) What are some causes of material variances (type your answer in the shaded region below ft point)? Projects . Tipe here to search