20 Wrap Merge General $78 8 Conditional Formatting > > Cell Styles ~ Format As Table insert ~ Delete Format ~ | ED 27- Ov b summary: Financial information for Patterson Incorporated, is presented in cells A4 to G14 and rows 16 to 17. A statement of requirement is presented in rows 19 to 24. A table for Standard Cost Variance Analysis . Direct Materials for student presentation is presented in cells A2 to 879 and All to Ca Standards for one of Patterson, Inc.'s products is show along with actual cost data for the month: M Direct materials: R S T Standard 6 Actual 2.4 yards @ Direct labor: $2.75 per yard 3.0 yards @ $6.60 $2.70 per yard 8 Standard $8.10 9 Actual 0.6 hours @ $18.00 per hour 10 Variable overhead: 0.5 hours @ 10.80 $22.00 per hour 11 Standard 11.00 12 Actual 0.6 hours @ $7.00 per hour 4.20 13 Total cost per unit 0.5 hours @ $7.10 per hour 3.55 14 Excess of actual cost over standard cost per unit $21.60 $22.65 15 $1.05 16 Actual production for the month 13,500 units 18 17 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. 19 Required: 20 Using formulas, compute the following. Input all numbers as positive amounts. 21 (Hint: This can be done using the ABS function). 22 23 + 24 (Use cells AS to G16 from the given information to complete this question. All formulas must return positive values. For each variance, select either "Favorable" or "Unfavorable". 25 26 Standard Cost Variance Analysis - Direct Materials 27 Standard Quantity Allowed for Actual Output at Standard Price 28 Actual Quantity of Input, at Standard Price 29 Actual Quantity of Input, at Actual Price 30 31 Materials quantity variance 32 Materials price variance 33 34 Standard Cost Variance Analysis - Direct Labor 35 Standard Hours Allowed for Actual Output at Standard Rate 36 Actual Hours of Input, at Standard Rate 37 Actual Hours of Input, at Actual Rate 38 39 Labor efficiency variance 40 Labor rate variance 41 42 Standard Cost Variance Analysis - Variable Manufacturing Overhead 43 Standard Hours Allowed for Actual Output at Standard Rate 44 Actual Hours of Input, at Standard Rate 45 Actual Hours of Input, at Actual Rate 46 47 Variable overhead efficiency variance Save and Return to 48 Variable overhead rate variance 49 Using formulas, compute the amount of the unit cost difference that is traceable to each of the variances computed above. 51 Graded Worksheet Workbook StatisticsInsert Draw Formulas Data Review View Help Search for tools, help, and more (Alt + () Calibri (Body) 11 A A B I U DMV A v ab Wrap Merge General 16 Actual production for the month B 08 48 Conditional Formatting ~ [Cell Styles v Format As Table Insert v Delete Format v E Du fox Ov open X fx Accessibility tab summary: Financial information for Patterson Incorporated, is presented in cells A4 to G14 and rows 16 to 17. A statement of requirement is presented in rows 19 to 24. A table for Standard Cost Variance Analysis - Direct Materials for student presentation is presented in cells A26 to 879 and All to Caz. A table 13,500 units 18 17 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. 0 19 Required: 20 Using formulas, compute the following. Input all numbers as positive amounts. 21 (Hint: This can be done using the ABS function). 22 23 25 24 (Use cells AS to G16 from the given information to complete this question. All formulas must return positive values. For each variance, select either "Favorable" or "Unfavorable". 26 Standard Cost Variance Analysis - Direct Materials 27 Standard Quantity Allowed for Actual Output at Standard Price 28 Actual Quantity of Input, at Standard Price 29 Actual Quantity of Input, at Actual Price 30 31 Materials quantity variance 32 Materials price variance 33 34 Standard Cost Variance Analysis - Direct Labor 35 Standard Hours Allowed for Actual Output at Standard Rate 36 Actual Hours of Input, at Standard Rate 37 Actual Hours of Input, at Actual Rate 38 39 Labor efficiency variance 40 Labor rate variance 41 42 Standard Cost Variance Analysis - Variable Manufacturing Overhead 43 Standard Hours Allowed for Actual Output at Standard Rate 44 Actual Hours of Input, at Standard Rate 45 Actual Hours of Input, at Actual Rate 46 47 Variable overhead efficiency variance 48 Variable overhead rate variance 49 + 50 Using formulas, compute the amount of the unit cost difference that is traceable to each of the variances computed above. 51 52 Materials: 53 Quantity variance 54 Price variance 55 Labor: 56 Efficiency variance 57 Rate variance 58 Variable overhead: 59 Efficiency variance 60 Rate variance 61 62 Excess of actual over standard cost per unit Save and Return 63 64 65 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 66