B D E F H 1 2 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: 3 4 Direct materials: 5 Standard 6 Actual 7 Direct labor: 8 Standard 9 Actual 10 Variable overhead: 11 Standard 12 Actual 13 Total cost per unit 14 Excess of actual cost over standard cost per unit 2.4 yards @ 3.0 yards @ $2.75 per yard $2.70 per yard $6.60 $8.10 0.6 hours @ 0.5 hours @ $18.00 per hour $22.00 per hour 10.80 11.00 0.6 hours @ 0.5 hours@ $7.00 per hour $7.10 per hour 4.20 3.55 $21.60 $22.65 $1.05 15 16 Actual production for the month 13,500 units 17 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. 18 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 A5 to G14 and cell B16 from the given information, as well as cells A27 to D62 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 48 49 50 Variable overhead rate variance 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 63