1. Compute the direct material, direct labor, and variabke overhead variances. ENTER AS FORMULAS

? 5 - ta WIB Basic variance analysis for direct materials, direct labor and variable overhead - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign in Calibri -15 Paste Calls CAN % 2. >> A Alignment Number Conditional Format as Cell Formatting Table Styles Font BTU Editing Clipboard Styles A38 f fo Total Spending Variance > A D E F 1 The standard cost card for a single unit of Robinson, Inc.'s products is shown below. 2 Standard Unit Cost 3 Standard Quantity 2.5 yards @ 0.5 hours 0.5 hours Standard Price/Rate $8.00 per yard $18.00 per hour $10.00 per hour $20.00 9.00 5.00 4 Direct materials: 5 Direct labor: 6 Variable overhead (based on labor hours): 7 8 Budgeted production for the month 9 Actual production for the month 10 11 Actual Costs Incurred to Produce 13,500 units: 12. Direct Materials Purchased and Used 13 Direct Labor Paid 14 Variable Overhead Incurred 14,000 units 13,500 units 35,100 yards @ 7,425 hours 7.425 hours $7.00 per yard $17.50 per hour $12.00 per hour Total Actual Cost $245,700 $129938 $89,100 15 A38 V X Total Spending Variance B D E F 15 16 17 18 Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for the spending and volume variances so that variance will appear as a negative number if unfavorable and a positive number if favorable. Spending Flexible Volume Master Actual Costs Variances Budget Variances Budget 19 Direct materials: $245,700 20 Direct labor $129,938 21 Variable overhead: $89,100 22 23 24 Using the formulas provided, compute the following variances. 25 Write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials Variance For U 28 Price Variance = AQ (SP-AP) 29 Quantity Variance = SP.(SQ-AQ) 30 Total Spending Variance 31 Direct Labor 32 Rate Variancc = AH (SR - AR) 33 Efficiency Variance = SR (SH - AH) 34 Total Spending Variance 35 Variable Overhead 44 23 29 24 Using the formulas provided, compute the following variances. 25 Write if statements to enter an For U to indicate whether the variance is favorable or unfavorable. 26 27 Direct materials: Variance For U 28 Price Variance = AQ - (SP-AP) Quantity Variance = SP * (SQ-AQ) 30 Total Spending Variance 31 Direct Labor Rate Variance = AH (SR - AR) 33 Efficiency Variance = SR (SH - AH) 34 Total Spending Variance 35 Variable Overhead 36 Rate Variance =AH (SR - AR) Efficiency Variance = SR (SH - AH) Total Spending Variance 39 40 32 37 38 41