ANSWERS MUST BE ENTERED BY CELL FORMULA PLEASE: NUMERICAL ANSWERS WILL BE MARKED AS INCORRECT

1. Compute the direct materials price and quantity variances and explain their significance.
2. Compute the direct labor rate and efficiency variances and explain their significance.
3. Compute the variable manufacturing overhead rate and efficiency variances and explain their significance.

ANSWERS MUST BE ENTERED BY CELL FORMULA PLEASE: NUMERICAL ANSWERS WILL BE MARKED AS INCORRECT

1 Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME|INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In -2-A . Alignment Number ConditionalForbatas StCels. Cells Editing Paste 1 u. Formatting Tabl Font A1 vXStandards for one of Patterson, Inc.'s products is shown below, along with actual v tandards r one of Patterson, Inc.'s praducts is shown belaw, along with actual cost data for the month: 3rect materials: tandard 2.4 yards @ 3 yards @ $2.75 per yard $2.70 per yard 6.60 ctual 8.10 irect labar: 7 tandard 8 ictual 9 ariable overhead: 0 tandard 11 ctual 0.6 hours @ 0.5 hours @ $18.00 per hour $22.00 per haur 10.80 11.00 0.6 hours @ 0.5 hours @ $7.00 per haur $7.10 per hour 4.20 3.55 3 atal cost per unit 1s xcess of actual cast over standard cost per unit 1.05 ctual production for the month 18 ariable overhead is assigned to products based on direct labor hours. There 19 as no beginning ar ending inventary of materials for the manth. 13,500 units 21 , sing formulas, compute the following. Input all numbers as positive amounts. ndicate whether the variances are F or U. Write if statements for variance cells F30 to F47. Use cell eferences (formulas) for cells DS3 D60. Enter an For U to indicate the correct variance in cells 54 to F62 25 tandard Cost Variance Analysis- Direct Moterials 26 Standard Quantity Allawed for Actual Output at Standard Price Sheet1 | (t) 2 Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri Paste Formatting Table Styles- Font A1 vXStandards for one of Patterson, Inc.'s products is shown below, along with actual v 25 tandard Cost Variance Analysis- Direct Materials 2Standard Quantity Allowed for Actual Output at Standard Price 2Actual Quantity of Input, at Standard Price Actual Quantity of Input, at Actual Price Materials quantity variance Materials price variance 33 tandard Cost Variance Analysis-Direct Labor 34 Standard Haurs Allowed for Actual Output at Standard Rate Actual Hours of Input, at Standard Rate 6Actual Hours of Input, at Actual Rate Labor efficiency variance 41 tandard Cost Variance Analysis- Variable Manufacturing Overhead 42 Standard Haurs Allowed for Actual Output at Standard Rate 43 Actual Hours of Input, at Standard Rate 4 Actual Hours of Input, at Actual Rate 46Variable averhead efficiency variance Variable averhead rate variance 49 sing formulas, compute the amount of the unit cost difference 0 hat is traceable to each of the variances computed abave 2 Materials: Sheet1... + 3 K8S-- - Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME INSERT PAGE LAYOUTFORMULAS DATA REVIEWVIEW Sign In paste. Blu- m. S-- Alignment Number Conditional Format as Styles. Cells Editing Formatting" Table Styles Clipboard Font Styles A1 Standards for one of Patterson, Inc.'s products is shown below, along with actual v 6Actual Hours of Input, at Actual Rate Labor efficiency variance 39 Labor rate variance tandard Cost Variance Analysis-Variable Manufacturing Overhead 42Standard Hours Allowed for Actual Output at Standard Rate 43 Actual Hours of Input, at Standard Rate 44 Actual Hours of Input, at Actual Rate Variable averhead efficiency variance 7 Variable averhead rate variance 49 sing formulas,compute the amount of the unit cost difference so hat is traceable to each of the variances computed above. Materials S3 Quantity variance Price variance abor Efficiency variance Rate variance 8 ariable overhead 9 Efficiency variance 60 Rate variance 62 xcess of actual aver standard cost per unit Sheet1... + 1 Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME|INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In -2-A . Alignment Number ConditionalForbatas StCels. Cells Editing Paste 1 u. Formatting Tabl Font A1 vXStandards for one of Patterson, Inc.'s products is shown below, along with actual v tandards r one of Patterson, Inc.'s praducts is shown belaw, along with actual cost data for the month: 3rect materials: tandard 2.4 yards @ 3 yards @ $2.75 per yard $2.70 per yard 6.60 ctual 8.10 irect labar: 7 tandard 8 ictual 9 ariable overhead: 0 tandard 11 ctual 0.6 hours @ 0.5 hours @ $18.00 per hour $22.00 per haur 10.80 11.00 0.6 hours @ 0.5 hours @ $7.00 per haur $7.10 per hour 4.20 3.55 3 atal cost per unit 1s xcess of actual cast over standard cost per unit 1.05 ctual production for the month 18 ariable overhead is assigned to products based on direct labor hours. There 19 as no beginning ar ending inventary of materials for the manth. 13,500 units 21 , sing formulas, compute the following. Input all numbers as positive amounts. ndicate whether the variances are F or U. Write if statements for variance cells F30 to F47. Use cell eferences (formulas) for cells DS3 D60. Enter an For U to indicate the correct variance in cells 54 to F62 25 tandard Cost Variance Analysis- Direct Moterials 26 Standard Quantity Allawed for Actual Output at Standard Price Sheet1 | (t) 2 Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri Paste Formatting Table Styles- Font A1 vXStandards for one of Patterson, Inc.'s products is shown below, along with actual v 25 tandard Cost Variance Analysis- Direct Materials 2Standard Quantity Allowed for Actual Output at Standard Price 2Actual Quantity of Input, at Standard Price Actual Quantity of Input, at Actual Price Materials quantity variance Materials price variance 33 tandard Cost Variance Analysis-Direct Labor 34 Standard Haurs Allowed for Actual Output at Standard Rate Actual Hours of Input, at Standard Rate 6Actual Hours of Input, at Actual Rate Labor efficiency variance 41 tandard Cost Variance Analysis- Variable Manufacturing Overhead 42 Standard Haurs Allowed for Actual Output at Standard Rate 43 Actual Hours of Input, at Standard Rate 4 Actual Hours of Input, at Actual Rate 46Variable averhead efficiency variance Variable averhead rate variance 49 sing formulas, compute the amount of the unit cost difference 0 hat is traceable to each of the variances computed abave 2 Materials: Sheet1... + 3 K8S-- - Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel ALE HOME INSERT PAGE LAYOUTFORMULAS DATA REVIEWVIEW Sign In paste. Blu- m. S-- Alignment Number Conditional Format as Styles. Cells Editing Formatting" Table Styles Clipboard Font Styles A1 Standards for one of Patterson, Inc.'s products is shown below, along with actual v 6Actual Hours of Input, at Actual Rate Labor efficiency variance 39 Labor rate variance tandard Cost Variance Analysis-Variable Manufacturing Overhead 42Standard Hours Allowed for Actual Output at Standard Rate 43 Actual Hours of Input, at Standard Rate 44 Actual Hours of Input, at Actual Rate Variable averhead efficiency variance 7 Variable averhead rate variance 49 sing formulas,compute the amount of the unit cost difference so hat is traceable to each of the variances computed above. Materials S3 Quantity variance Price variance abor Efficiency variance Rate variance 8 ariable overhead 9 Efficiency variance 60 Rate variance 62 xcess of actual aver standard cost per unit Sheet1... +