Use excel formulas instead of entering values to solve the yellow cells with the data shown above.

IMPORTANT: Answer grading policy For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 OK Excel McGraw Hill Excel Question - Saved Search (Alt + Q) File Home Insert Draw Formulas Data Editing v Dv 11 Calibri B I B A Merge General $0.00 Conditional Formatting Styles 11 fx Accessibility tab summary: Financial information for Patterson Incorporated, is presented in cells A4 to G14 and rows 16 to 17. A statement of requirement is presented in rows 19 to 24. A table for Stan A B D I J K L M N A1 X E F G H 1 2 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: 3 4 Direct materials: 5 Standard 2.4 yards @ 3.0 yards @ $2.75 per yard $2.70 per yard Actual 7 Direct labor: 8 Standard 0.6 hours @ 0.5 hours @ $18.00 per hour $22.00 per hour 9 Actual 10 Variable overhead: 11 Standard 0.6 hours @ 0.5 hours @ $7.00 per hour $7.10 per hour 12 Actual 13 Total cost per unit $21.60 $22.65 14 Excess of actual cost over standard cost per unit $1.05 15 16 Actual production for the month 13,500 units 17 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. 18 19 Required: 20 Using formulas, compute the following. Input all numbers as positive amounts. 21 (Hint: This can be done using the ABS function). 22 23 24 (Use cells A5 to G16 from the given Information to complete this question. All formulas must return positive values. For each varlance, select elther "Favorable" or "Unfavorable". 25 26 Standard Cost Varlance Analysis - Direct Materials 27 Standard Quantity Allowed for Actual Output at Standard Price 28 Actual Quantity of Input, at Standard Price 29 Actual Quantity of Input, at Actual Price 30 31 Materials quantity variance 32 Materials price variance 33 34 Standard Cost Variance Analysis - Direct Labor 35 Standard Hours Allowed for Actual Output at Standard Rate 36 Actual Hours of Input, at Standard Rate 37 Actual Hours of Input, at Actual Rate 38 39 Labor efficiency variance 40 Labor rate variance