Need explanation so I can do it on Excel.

American Fashion Inc., financial accountant prepared the following performance report for March 2018. During this beginning or ending inventories. month the company produced and sold 1 5,900 items. There is no American Fashion Inc Performance Report, March 2018 Sales in units 15.900 588,300 198,240 ales Revenue Variable marufacturing costs Fixed manufacturing costs Cost of goods sold Gross margin Operating Costs: 204.000 136200136,000 200 253,860 255,0001140 U Variable marketing costs Fixed marlketing costs Fixed acministrative costs 95,400 65,000 85 60,000 195.00015500U Total Operating Costs Operating income 43,360 The follovwing additional information is available. Standard Quantity Standard Price Standard or Hours 3.0 pounds or Rate 52.00 per pound 56.00 per hour Cost $6.00 4.80 Direct materials Direct mamufacturing lahor0.3 hour Variable mamufachuring overhead 0.4 machine-hour $3.00 per bour Fixed mamufacturing overhead 0.4 machine-hour$20.00 per hour8.00 Total standard coets a. The company purchased and used 44,000 pounds of materials at a cost of $2.30 per pound b. Worked 12,500 direct labor hours at a rate of $6.30 per hour. c. Incurred variable manufacturing overhead costs of $13,290 for the month. A total of 5,900 machine-hours mere recorded 1. Prepare a new performance report (contribution margin format) that uses a exible budget 2. Compute the following variances: a) Direct materials price and efficiency variances (b) Direct labor rate and efficiency variances (c) Variable manufachuring overhead spending and efficiency variances (d) Fixed marufacturing overhead spending and production volume variances NOTE: The performance report and the variance analysis nust be completed in Microsoft Eccel