Please solve it in Excel and use professional formatting. Please solve all parts as its 1 question,

Mask Manufacturing asked you to take a look at their actual results for the past month. Static budget plan was to produce 60,000 masks, but problems with buying materials and shortages of staff resulted in total volume of only 30,000. Standards were set based on the following: - Fabric: 0.1 yards at a cost of $15.00 per yard. - Labour: Workers should produce 15 masks per hour at a rate of $22.50 per hour. - Overhead expenses are all fixed, and were estimated at $1.00 per unit based on the static budget. Actual results did not come out as planned: - Fabric cost increased to $20.00 per yard due to shortages. - Production requirements for fabric exceeded plan: 0.133 yards were used per mask. - Due to shortages, the company bought 10,000 yards of fabric for use now and future. - Wage rate was increased to $27.50 per hour. Production was only 10 masks / hour. Required: a) Compute the materials and labour variances for the month (8 marks) b) Compute the standard and actual cost per mask. (4 marks) C) The company is selling masks at $5.75 each. What is the contribution margin per unit? Is the company profitable