In Excel format, answer problem 7-1

Problem 7-1 Badlands Container, Inc. expects to manufacture eight (8) containers. It presents it standard costs and actual costs for the production run: Direct Materials and Direct Labor Standards for Each Container: 4 lbs. of plastic per container @ $4 per lb 2 hours of direct labor per container @ $7 per hour Overhead Standards (based on direct labor hours): Budgeted variable overhead cost Budgeted fixed overhead costs $48 $32 Actual Results: Containers manufactured Total variable overhead costs Total fixed overhead costs Total direct materials used Cost per lb. of plastic Total direct labor hours Labor rate per hour 7 containers $43 S. $5 12 hours $6