I'm exporting from FMP to an Excel spreadsheet and while I'm able to accomplish this, what I can't seem to do is to export the label of the field along with the data. Any suggestions?

Use the "merge data file" format for export. Works mostly well.

The problem with MER is that it makes it comma delinated and when I bring it into Excel it puts all the info from the record into one cell. MER however does work to export the label

Howdy! Actually, when you bring a text file into Excel, you have several options for how the file should be parsed, including indentifying what the delimiters should be and whether or not there are text qualifiers, etc. Try adjusting those options when you bring it to Excel... you should be able to get pretty much exactly what you want with a little tinkering.
--ST