Jescription: Perform: Instructions Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor. a.Use the ABS function when calculating variances, and use the drop-down selections for F (favorable) or U (unfavorable) when describing the variances (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Total Points United States Focus MacBook Air * Jx Flexible Budgets, Direct-Cost Varlances, and Management Control Flexible Budgets, Direct Cost Variances, and Management Control Materials and manufacturing labor variances Consider the following data collected for Great Homes, Inc.: Direct Manufacturing Labor $90,000 86,000 80,000 Direct Materials $200,000 214,000 225,000 Cost incurred: Actual inputs x actual prices Actual inputs x standard prices Standard Inputs allowed for actual output x standard prices 11 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be 12 marked wrong 14 Requirement 15 Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor Use the ABS function when calculating variances, and use the drop down selections for favorable or funfavorable when describing the variances 19 Saving & Submitting Solution 1 Save fleto desktop. a Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded a Navigate back to the activity window - screen where you downloaded the initial spreadsheet b. Click Choose button under step 3: locate the file you just saved and click Open Click Upload button under step 3 d. Click Submit button under step 4 Viewing Results 1 Click on Results tab in My Accountinglab 2 Click on the Assignment you were working on 3 Click on Project link, this will bring up your Score Card 4 Within Score Card window, click on Live Comments Report (lower right to download spreadsheet with feedback INSTRUCTIONS INSTRUCT ENTERANSWERS + Ma (Always use cell references and formulas where appropriate to receive full credit. If you 1 copy/paste from the Instructions tab you will be marked wrong.) Direct Manufacturing L abor Direct Materials U F/ F/U 4 5 6 (1) Price variance (2) Efficiency variance (3) Flexible-budget variance INSTRUCTIONS ENTERANSWERS +