8 Required information The Chapter 10 Form worksheet s to be used to create your own worksheet version of the mein example in the text Downlaad the Applying Excel form and enter farmulas in al cells that contain question marks For exemple, in cell D21 enter the formule- pors he test, vertences e always displayed as positre rumbers. 'oaccomplish this, you can use the ABSU tunction nExcel For ekemple, the formula in cel B25 would be .-ABS-2-F2 els 5 through C 7 4 trou ' 36 5nd C43 hrough 45 reedy corter ormules tu compute end d splay whether verer ces ere o atle Ur Umfg orable. Du "vt enter dete or or Jes rto these cel . you do you nil overwrite ese o mules * Check our we ks eat by charar tha direct materials standard d uantity in cal B to 2 9 pound t direct l barc a try s an and q antity in cal Eto ,6 haurs, a d the wri ble un act ring ave head in cal BB to 0 6 ors The mat nals s spencing var10e should now be $3.720 F, and lhe valable overheac spendrg variance should row be SO F. r You do not Ge: these answers, tind the errors in your worsneet and correct tem. din arisnca should naw be1 Sa0 u the labo " ave your completed Applying E cel form to your computer and then upload it here by clicking "Browse. No xt click You will use this orksheet tana ver the quesians in Part 2 au o 8 Required information The Chapter 10 Form worksheet s to be used to create your own worksheet version of the mein example in the text Downlaad the Applying Excel form and enter farmulas in al cells that contain question marks For exemple, in cell D21 enter the formule- pors he test, vertences e always displayed as positre rumbers. 'oaccomplish this, you can use the ABSU tunction nExcel For ekemple, the formula in cel B25 would be .-ABS-2-F2 els 5 through C 7 4 trou ' 36 5nd C43 hrough 45 reedy corter ormules tu compute end d splay whether verer ces ere o atle Ur Umfg orable. Du "vt enter dete or or Jes rto these cel . you do you nil overwrite ese o mules * Check our we ks eat by charar tha direct materials standard d uantity in cal B to 2 9 pound t direct l barc a try s an and q antity in cal Eto ,6 haurs, a d the wri ble un act ring ave head in cal BB to 0 6 ors The mat nals s spencing var10e should now be $3.720 F, and lhe valable overheac spendrg variance should row be SO F. r You do not Ge: these answers, tind the errors in your worsneet and correct tem. din arisnca should naw be1 Sa0 u the labo " ave your completed Applying E cel form to your computer and then upload it here by clicking "Browse. No xt click You will use this orksheet tana ver the quesians in Part 2 au o X Jx Chapter 10: Applying Excel Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Inputs Standard Quantity Direct materials Direct labor Variable manufacturing overhead 3.0 pounds 0.50 hours 0.50 hours Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual results Actual output 2,000 units $7,140 Actual Quantity Actual variable manufacturing overhead cost 6,500 pounds 1,050 hours Actual price $3.80 per pound $21.60 per hour Actual direct materials cost Actual direct labor cost Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Standard Quantity Allowed for the Actual Output, at Standard Price Actual Quantity of Input, at Standard Price Actual Quantity of Input, at Actual Price Direct materials variances ? pounds x ? pounds x ? pounds x ? per pound ? per pound ? per pound Materials quantity variance Materials price variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Direct labor variances ? hours x ? hours x ? hours x ? per hour ? per hour ? per hour = Labor efficiency variance Labor rate variance Labor spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Variable overhead variances ? hours ? hours x ? hours x ? per hour ? per hour ? per hour Variable overhead efficiency variance Variable overhead rate variance Variable overhead spending variance Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: 1 Chapter 10: Applying Excel 2 3 Data 4 Exhibit 10-1: Standard Cost Card Inputs Standard Quantity Standard Price 6 Direct materials 3.0 pounds 0.50 hours 0.50 hours 4.00 7 Direct labor 22.00 per hour 8 Variable manufacturing overhead 6.00 per hour 9 10 Actual results 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 1,990 units 5,712 Actual Quantity Actual price 6,130 pounds 1,020 hours 4.5 pounds 22.1 per hour a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the materials quantity variance a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable and "None" for no effect (i.e., zero variance)) The amount of the materials price variance b-1. What is the labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the labor efficiency variance b-2. What is the labor rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your final answer to nearest whole dollar amount.) The amount of the labor rate variance c-1. What is the variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the variable overhead efficiency variance c-2. What is the variable overhead rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). The amount of the variable overhead rate variance