Basic Variance Analysis and the Impact of Variances Im Unit Costs. 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. (Please show the imputed formula/formula used)

Basic Variance Analysis and the Impact of Variances on Unit Costs 1. Compute the direct matenals price and quantity vartiances and explain thelr significance 2. Compute the direct labor rate and effciency variances and explain their significance. 3. Compute the variable manufacturing overhead rate and eficiency variances and explain thetr significance Basic Variance Analysis and the Impact of Variances on Unit Costs-Excel HOME | INSERT PAGE layOUT FORMULAS DATA REVIEW VERN Sign In Paste B 1 u. |.e._, Alignment Number Conditional Format as Cell Cells Editing! Formatting" Table Styles Styles Font A1 | | | standards for one of Patterson, Inc.'s products is shown below, along with actual x-/ f, Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: materials: 2.4 yards @ 3 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 9 Variable overhead: 10 Standard 11 Actual 12 13 Total cost per unit 14 1s Excess of actual cost over standard cost per unit 16 17 Actual production for the month i8 Variable overhead is assigned to products based on direct labor hours. There 0.6 hours@ o.s hours @ $7.00 per hour $7.10 per hour 4.20 3.55 $21.60 $22.65 $1.05 13,500 units 19 was nn heeinnine or endine inventorv of materials for the month Prev 1 of 1E Next