Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below 1 Chapter 8: Applying Excel 2 3 Data 4 Exhibit 8-8: Standard Cost Card Inputs Standard Quantity Standard Price $4.00 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead 3.0 pounds 0.50 hours 0.50 hours $22.00 per hour $6.00 per hour 10 Actual results 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 1,880 units $4,868 Actual Quantity 5,435 pounds 825 hours Actual price $3.6 pounds $22.1 per hour a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) The amount of the materials quantity variance a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) The amount of the materials price variance