please follow the excel sheet and show your work in order to understand how is done 505388

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct Materials: 5 pounds at $8.00 per pound……………………………. $40.00 Direct Labor: 2 hours at $14.00 per hour ……………………………………. 28.00 Variable Overhead: 2 hours at $5.00 per hour ……………………………. 10.00 Total standard variable cost per unit ……………………………………………. $78.00 The company also established the following cost formulas for its selling expenses: Fixed Cost Variable Cost Per Month Per Unit Sold Advertising ………………………………………………………… $200,000 Sales salaries and commisions …………………………. $100,000 $12.00 Shipping expenses ……………………………………………. $3.00 The planning budget for March was based on producing and selling 25,000 units. However, March the compnay actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production b. Direct-laborers worked 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. d. Total advertising, sales salaries and commissions, and shipping expenses were $210,000, $455,000, and $115,000, respectively. Required to Answer: 1. What raw materials cost would be included in the company’s flexible budget for March? 2. What is the materials quantity variance for March? 3. What is the materials price variance for March? 4. If Preble had purchased 170,000 pounds of materials at $7.50 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March? 5. If Preble had purchased 170,000 pounds of materials at $7.50 per pound and used 160,000 pounds in production, what would be…