Please include formulas. Thank you

A B B F G G H 1 J K K L M N O DE MRO Department - 2020 Results - 3 Revenues (billed out): Budget Actual Fav./(Unfav.) Change in Gross Margin 4 - Labor (hrs.) 3,456 3,648 192 45,868 5 - Labor rate ($/hr.) 120 120 6 - Parts ($/hr.) 345 320 (25) Labor Variance Parts Variance 7 Costs: Revenue (hrs.) Revenue (hrs.) 8 - Labor (hrs.) 3,840 3,877 37 Rate ($/hr.) Revenue ($/hr.) 9 - Labor ($/hr.) 42 44 2 Costs (hrs.) Costs (hrs.) 10 - Parts % of revenue) 80% 77% -3% Labor ($/hr.) $/ Costs ($/hr.) 11 Total Mark-up 12 Revenues: S Fav./(Unfav.) Other 13 - Labor 414,720 437,760 23,040 Total 14 - Parts 1.192.320 1,168,092 (24,228) 15 Total Revenues 1,607,040 1,605,852 (1,188) 16 Costs: 17 - Labor 161,280 168,650 7,370 18 - Parts 953,856 899,431 (54,425) 19 Total Costs 1,115,136 1,068,080 (47,056) 20 Insert your text explanation of the variances here. 21 Gross Margin 491,904 537,772 45,868 22 Overhead: 23 - Space 75,000 75,000 24 - General & Admin 35,000 35,000 25 - Depreciation 68,500 68,500 26 - Legal & Regulatory 18,000 18,000 27 Total Overhead 196,500 196,500 28 29 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 A B B F G G H 1 J K K L M N O DE MRO Department - 2020 Results - 3 Revenues (billed out): Budget Actual Fav./(Unfav.) Change in Gross Margin 4 - Labor (hrs.) 3,456 3,648 192 45,868 5 - Labor rate ($/hr.) 120 120 6 - Parts ($/hr.) 345 320 (25) Labor Variance Parts Variance 7 Costs: Revenue (hrs.) Revenue (hrs.) 8 - Labor (hrs.) 3,840 3,877 37 Rate ($/hr.) Revenue ($/hr.) 9 - Labor ($/hr.) 42 44 2 Costs (hrs.) Costs (hrs.) 10 - Parts % of revenue) 80% 77% -3% Labor ($/hr.) $/ Costs ($/hr.) 11 Total Mark-up 12 Revenues: S Fav./(Unfav.) Other 13 - Labor 414,720 437,760 23,040 Total 14 - Parts 1.192.320 1,168,092 (24,228) 15 Total Revenues 1,607,040 1,605,852 (1,188) 16 Costs: 17 - Labor 161,280 168,650 7,370 18 - Parts 953,856 899,431 (54,425) 19 Total Costs 1,115,136 1,068,080 (47,056) 20 Insert your text explanation of the variances here. 21 Gross Margin 491,904 537,772 45,868 22 Overhead: 23 - Space 75,000 75,000 24 - General & Admin 35,000 35,000 25 - Depreciation 68,500 68,500 26 - Legal & Regulatory 18,000 18,000 27 Total Overhead 196,500 196,500 28 29 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