Please complete **Chapter 10: Applying Excel**---### Data**Exhibit 10-1: Standard Cost Card**| Inputs | Standard Quantity | Standard Price ||-------------------------------|-------------------|--------------------|| Direct materials | 3.0 pounds | $4.00 per pound || Direct labor | 0.50 hours | $22.00 per hour || Variable manufacturing overhead| 0.50 hours | $6.00 per hour |---### Actual Results:- **Actual output:** 2,030 units- **Actual variable manufacturing overhead cost:** $6,975---### Actual Costs:| Inputs | Actual Quantity | Actual Price ||------------------------------|-------------------|---------------------|| Actual direct materials cost | 5,855 pounds | $4.20 per pound || Actual direct labor cost | 1,125 hours | $22.10 per hour |*Enter a formula into each of the cells marked with a ? below*---### Main Example: Chapter 10**Exhibit 10-4: Standard Cost Variance Analysis – Direct Materials**1. **Standard Quantity Allowed for the Actual Output, at Standard Price:** - 7 pounds × $4.00 per pound = ?2. **Actual Quantity of Input, at Standard Price:** - 5,855 pounds × $4.00 per pound = $23,4203. **Actual Quantity of Input, at Actual Price:** - 5,855 pounds × $4.20 per pound = $24,5914. **Direct materials variances:** - **Materials price variance:** ? - **Materials quantity variance:** ? - **Materials spending variance:** ? (U or F)---**Exhibit 10-6: Standard Cost Variance Analysis – Direct Labor**1. **Standard Hours Allowed for the Actual Output, at Standard Rate:** - ? hours × $22.00 per hour = ?2. **Actual Hours at Standard Rate:** - 1,125 hours × $22.00 per hour = $24,7503. **Actual Hours at Actual Rate:** - 1,125 hours × $22.10 per hour = $24,8634. **Direct labor variances: **Required Information****Chapter 10: Applying Excel (Algo) [LO10-1, LO10-2, LO10-3]**The Chapter 10 worksheet appearing in Excel recreates the example in the text.---**Chapter 10: Applying Excel: Exercise (Part 2 of 2) (Algo)****Requirement 2:**Revise the data in your worksheet to reflect the results for the subsequent period as shown below:| | A | B | C | D | E ||-------|--------------------------------|------------|--------------------|-----------|---------|| 1 | **Chapter 10: Applying Excel** | | | | || 2 | | | | | || 3 | **Data** | | | | || 4 | **Exhibit 10-1: Standard Cost Card** | | | | || 5 | **Inputs** | | **Standard Quantity** | **Standard Price** | || 6 | Direct materials | 3.0 | pounds | $4.00 | per pound|| 7 | Direct labor | 0.50 | hours | $22.00 | per hour || 8 | Variable manufacturing overhead| 0.50 | hours | $6.00 | per hour || 9 | **Actual results:** | | | | || 10 | Actual output | 2,030 | units | | || 11 | Actual variable manufacturing overhead cost | $6,975.00 | | | || 12 | | **Actual Quantity** | **Actual price**| | || 13 | Actual direct materials cost | 5,855 | pounds | $4.20 | per pound|| 14 | Actual direct labor cost | 1,125 | hours | $22.10 | per hour |This table is a practical worksheet example for adjusting data to reflect actual results in a manufacturing setting. It includes both the standard costs and actual costs for materials, labor, and overhead, providing a comprehensive overview for comparison and

Name: Please complete **Chapter 10: Applying Excel**---### Data**Exhibit 10-
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Description: Please complete **Chapter 10: Applying Excel**---### Data**Exhibit 10-1: Standard Cost Card**| Inputs | Standard Quantity | Standard Price ||-------------------------------|-------------------|--------------------|| Direct