Please use formulas to do this!!

X 5 Basic variance analysis for direct materials, direct labor and variable overhead - Excel ? 5 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In ABC | as Translate 2 Show/Hide Comment Show All Comments Show Ink Spelling Research Thesaurus New Comment Delete Previous Next Changes Proofing Language Comments A1 . x The standard cost card for a single unit of Robinson, Inc.'s products is shown A B D E F 1 The standard cost card for a single unit of Robinson, Inc.'s products is shown below. 2 3 Standard Price/Rate Standard Unit Cost Standard Quantity 2.5 yards @ 0.5 hours @ 0.5 hours @ $8.00 per yard $18.00 per hour $10.00 per hour $20.00 9.00 5.00 4 Direct materials: 5 Direct labor: 6 Variable overhead (based on labor hours): 7 8 Budgeted production for the month 9 Actual production for the month 10 11 Actual Costs Incurred to Produce 13,500 units: 12 Direct Materials Purchased and Used 13 Direct Labor Paid 14 Variable Overhead Incurred 15 14,000 units 13,500 units 35,100 yards @ 7,425 hours @ 7,425 hours @ $7.00 per yard $17.50 per hour $12.00 per hour Total Actual Cost $245,700 $129,938 $89,100 Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for 16 the spending and volume variances so that variance will appear as a negative number if unfavorable and a positive number if favorable. 1 fx The standard cost card for a single unit of Robinson, Inc.'s products is shown y E F Master Budget A B D 17 Spending Flexible Volume 18 Actual Costs Variances Budget Variances 19 Direct materials: $245,700 20 Direct labor: $129,938 21 Variable overhead: $89.100 22 23 24 Using the formulas provided, compute the following variances. 25 Write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials: Variance For U 28 Price Variance = AQ * (SP - AP) 29 Quantity Variance = SP * (SQ - AQ) 30 Total Spending Variance 31 Direct Labor 32 Rate Variance = AH* (SR - AR) 33 Efficiency Variance = SR * (SH - AH) 34 Total Spending Variance 35 Variable Overhead 36 Rate Variance = AH * (SR - AR) 37 Efficiency Variance = SR* (SH - AH) 38 Total Spending Variance 39 Sheet1 + DEADY