Bus 213 Managerial Accounting Chapter 21 Excel HW Problenm Due Date 11/20/17 Name The Lynbrook Corporation produces and sells taffy by the bag and uses a standard cost system to collect costs related to production. The following information relates to Lynbrook's operations for last month: 1. Number of bags of taffy sold 2. Standard price of dircct matcrial (pcr pound) 3. Standard direct labor rate per hour... 4, Actual quantity of direct naterials purchased in pounds) 5. Standard quantity of direct matcrials pcr bag in pounds). 6. Actual quantity of direct materials used... 7. Standard quantity of direct labor per bag (in hours.. 8. Number of bags produced 9. 1 tual price paid for duet materials (per pound) 10. Actual direct labor rate per hour.. 100,000 $0.80 S14.00 120,000 $0.81 ?22 13,000 $2,600 F S7.200 U S1,400 L 13. Materials quantity varian 14. Mateils price variance Required: Compute the unknown quantities above. (Numbers 4, 6, 7, and 10.) It is strongly recommended that you use the format discussed in class to prepare the solution to this problem. Note: All computations must be supported by excel formulas