Please use this template to calculate the variences. The yellow spots are for the variences, the green are just for "favorable or unfavorable"

PROBLEM: Mascot Mfg. makes costumes for athletic team mascots and uses a standard costing system The company recognizes (isolates) materials price variances at the time the materials are purchased. They allocate (apply) OH based on # of DL hours. Following are this year's cost and standards data; assumes 52 weeks per Standards (for a planned level of production of 2,100 units per month) Direct Materials: 1200 yards 26.50 average Yards per costume Price per yard Direct Labor D.L. Hours per costume D.L. Rate per hour Variable MOH standard rate per direct labor hour Fixed MOH standard rate per direct labor hour Total Budgeted Fixed MOH (for 1 m 60.00 hours 45.00 average 4.85 per D.L. hour 10.32 per D.L. hour $1,300,000 Actual cost and data from the current month: Actual number of yards of materials purchased Actual cost of materials purchased Actual number of yards used in production Actual number of costumes produced Actual direct labor hours Actual direct labor cost Actual variable MOH (in Actual fixed MOH (in total) 28,000 $800,000 $28.57 per yo 26,350 2,200 134,500 $5,112,000 $38.01 per hr $673,000 $1,458,000 Requirement #1: Using Excel functionality, calculate these variances using the templates to the right. 1. Direct material variances 2. Direct labor variances 3. Variable MOH variances 4. Fixed MOH variances