Please include formulas. Thank you!

A A B C | D |E| F | G H | I | J 1_ MRO Department 2020 Results 2 3_ Revenues [billed out): Budget Actual Fav.7|[_]nfav.[ 4_ Labor (1115.) 3,456 3,648 192 5_ Labor rate ($1111.) 120 120 6_ Pa115 ($1111.) 345 320 (25) Labor Variance Parts Variance 7_Costs: Revenue (1115.) Revenue (1115.) 8_ Labor (1115.) 3,840 3,877 37 Rate ($1111.) Revenue ($1111.) 9_ Labor ($1111.) 42 44 2 Costs (1115.) Costs (1115.) 10 Pa115 (% of revenue) 80% 77% 3% Labor ($1111.) Costs ($1111.) L Total Ma1kup l2 Revenues: $ Fav.7|[_]nfav.[ 11 Labor 414,720 437,760 23,040 14 Pa115 1,192,320 1,168,092 24,228} Ii Total Revenues 1,607,040 1,605,852 (1,188) 11 Costs: 11 Labor 161,280 168,650 7,370 18 Pa115 953,856 899,431 54,425} 11 Total Costs 1,115,136 1,068,080 (47,056) 2i Insert your text explanation of the variances here. 2i Gross Margin 491,904 537,772 45,868 22 Overhead: 2i Space 75,000 75,000 2i General 8; Adam 35,000 35,000 2i Depreciation 68,500 68,500 26 Legal 8; Regulatory 18,000 18,000 21 Total Overhead 196,500 196,500 28 21 Net before Taxes 295,404 341,272 45,868 30 Taxes 62,035 71,667 9,632 31 Net after Taxes 233,369 269,605 36,235