Runtime error 1004 - Application Defined or Object Defined Error

Hello,

I get the runtime error in excel 2010 when running a macro for an IF statement/formula. The formula is:

=IF(AND(A8="4050.000",C8>0),"Over Budget: Line item not budgeted, however late charges billed and collected per the Billing & Collection Policy.",(IF(AND(A8="4050.000",C8<0),"Under Budget: Payment to xx for 50% of collected late fees from prior fiscal years.",(IF(AND(A8="",C8>1),"",(IF(A8="","",(IF(AND(E8>=100,F8>="105.00%"),"Over Budget:",(IF(F8="100.00%","No Variance",(IF(AND(C8<=0,D8>0),"Under Budget: No expense incurred",(IF(AND(C8>0,D8=0),"Over Budget: Line item not budgeted",(IF(AND(F8<"95.00%",E8<=-100),"Under Budget:",(IF(F8="100.00%","No Variance",(IF(AND(F8="0.00%",G8>1),"No Variance",(IF(AND(OR(F8<"100.00%",F8>"95.00%"),OR(E8>-100,E8<100)),"Under Budget: No significant variance","Over Budget: No significant variance")))))))))))))))))))))))

When I hit debug, it takes me to the VB window and highighlights the formula. I don't know anything about programming so please try to explain in laymans terms for me. The IF statement is 55 words if that's any help.

Here is the VB code:

Sub test()
'
' test Macro
'

'
    ActiveCell.FormulaR1C1 = _
        "=IF(AND(RC[-9]=""4050.000"",RC[-7]>0),""Over Budget: Line item not budgeted, however late charges billed and collected per the Billing & Collection Policy."",(IF(AND(RC[-9]=""4050.000"",RC[-7]<0),""Under Budget: Payment to Mar West for 50% of collected late fees from prior fiscal years."",(IF(AND(RC[-9]="""",RC[-7]>1),"""",(IF(RC[-9]="""","""",(IF(AND(RC[-5]>=100,RC" & _
        "105.00%""),""Over Budget:"",(IF(RC[-4]=""100.00%"",""No Variance"",(IF(AND(RC[-7]<=0,RC[-6]>0),""Under Budget: No expense incurred"",(IF(AND(RC[-7]>0,RC[-6]=0),""Over Budget: Line item not budgeted"",(IF(AND(RC[-4]<""95.00%"",RC[-5]<=-100),""Under Budget:"",(IF(RC[-4]=""100.00%"",""No Variance"",(IF(AND(RC[-4]=""0.00%"",RC[-3]>1),""No Variance"",(IF(AND(OR(RC[-4]<""" & _
        ",RC[-4]>""95.00%""),OR(RC[-5]>-100,RC[-5]<100)),""Under Budget: No significant variance"",""Over Budget: No significant variance"")))))))))))))))))))))))"    Range("J8").Select
    Selection.AutoFill Destination:=Range("J8:J187"), Type:=xlFillDefault
    Range("J8:J187").Select
    Selection.Copy
Range("H8").Select
    Selection.PasteSpecial Paste:=xlPasteValues, Operation:=xlNone, SkipBlanks _
        :=False, Transpose:=False
    Application.CutCopyMode = False
    With Selection
        .HorizontalAlignment = xlGeneral
        .VerticalAlignment = xlTop
        .WrapText = False
        .Orientation = 0
        .AddIndent = False
        .IndentLevel = 0
        .ShrinkToFit = False
        .ReadingOrder = xlContext
        .MergeCells = False
    End With
    With Selection
        .HorizontalAlignment = xlGeneral
        .VerticalAlignment = xlTop
        .WrapText = True
        .Orientation = 0
        .AddIndent = False
        .IndentLevel = 0
        .ShrinkToFit = False
        .ReadingOrder = xlContext
        .MergeCells = False
    End With
    Selection.Rows.AutoFit
End Sub