Module 8 Excel Spreadsheet Instructions Below you will see three sets of inputs. After inputting all of your formulas, you should be able to use any of these sets of data and have the answers automatically update. For this assignment, please choose one of the data sets above and input all of the necessary formulas to find the answers. Once you are done, choose a different data set, enter it into your spreadsheet, and check the updated answers to ensure that everything is flowing through the formulas appropriately. A check answer for each one has been provided. Data set #1 Inputs: Data Section: Materials price variance input Actual cost of material per pound (ounce, etc.) Standard cost of mat. per pound (ounce, etc.) $15.90 $16.00 Materials quantity variance input Actual quantity of materials used Standard quantity of mat. used for actual output 39,500 38,000 Labor rate variance input Actual cost of labor per hour Standard cost of labor per hour $8.05 $8.00 Labor efficiency variance input Actual quantity of hours incurred Standard quantity of hours for actual output 44,000 45,600 Check figure (Total materials and labor variances): "$9,450 A B C D ( E F F 2 Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in numbers format will receive a 0. DIRVAR Student Name => Section Number => 5 A B D E E $15.90 $16.00 39,500 38,000 $8.05 $8.00 44,000 45,600 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 16 NAWNHO COUAWNHO OWNOVAWN COAWN : - 6 Data Section: 7 8 Materials price variance input 9 Actual cost of material per pound (ounce, etc.) 10 Standard cost of mat. per pound (ounce, etc.) 11 12 Materials quantity variance input 13 Actual quantity of materials used 14 Standard quantity of mat. used for actual output 15 16 Labor rate variance input 17 Actual cost of labor per hour 18 Standard cost of labor per hour 19 20 Labor efficiency variance input 21 Actual quantity of hours incurred 22 Standard quantity of hours for actual output 23 24 25 Answer Section: 26 27 28 Material price variance 29 Material quantity variance 30 31 Total materials variance 32 33 Labor rate variance 34 Labor efficiency variance 35 36 Total labor variance 37 38 Total materials and labor variances 39 40 Indicate For U only FORMULA1 SELECT ONE FORMULA2 SELECT ONE FORMULA3 SELECT ONE FORMULA4 FORMULA5 SELECT ONE SELECT ONE FORMULA6 SELECT ONE FORMULA7 DIRVAR Current ORIGINAL