Calculating Materials, Labor, and Variable Overhead Variances

Dresco. Incorporated is analyzing its most current results against the budget.

$6$ points

Skipped

References

Here is the standard cost information:

$\backslash$table$[[,\backslash$table$[[$Standard Cost$],[$per Direct$]],\backslash$table$[[$Standard$],[$Quantity$/$Hours$]],\backslash$table$[[$Standard$],[$Cost per$]]],[,$Material$/$Hour$,$per Unit,Unit$],[$Direct Materials,$$7\mathrm{.}50,2\mathrm{.}5,$$$18\mathrm{.}75$

b summary: Infor

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rent results agains

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A$1$

$f_x$ Accessibility tab summary: Information about Dresco Incorporated is provided in rows $2$ to $21.$ Statements $1$ to $3$ for $5$

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$2$ Dresco, Incorporated is analyzing its most current results against the budget.

$3$

$4$ Here is the standard cost information:

$5$

$\backslash$table$[[-,\backslash$table$[[$Standard Cost$],[$per Direct$],[$Material$/$Hour$]],\backslash$table$[[$Standard$],[$Quantity$/$Hour$],[$s per Unit$]],\backslash$table$[[$Standard Cost$],[$per Unit$]]],[$Direct Materials,$7\mathrm{.}50,2\mathrm{.}5,\backslash$table$[[$$$,18\mathrm{.}75]]],[$Direct Labor,$19\mathrm{.}00,2,38\mathrm{.}00],[$Variable Overhead,$6\mathrm{.}50,2,13\mathrm{.}00]]$

$10$

$\backslash$table$[[$Planned production $($units$),10,000]]$

$12$

$\backslash$table$[[$Planned production $($units$),10,000]]$

Actual cost information is below:

$14$

$\backslash$table$[[$Units Produced,,$9,500],[$Materials Purchased and Used,,$27,500],[$Cost of Direct Materials,$$,181,000],[$Direct Labor Hours,,$18,500],[$Direct Labor Cost,$$,406,000],[$Variable Overhead Cost,$$,115,000],[$Fixed Overhead Cost,$$,325,000]]$

$22$

$23$ Required:

$24$ Calculate the Materials Price, Quantity, and Spending Variance.

$25$ Calculate the Direct Labor Rate, Efficiency, and Spending Variance.

Graded Worksheet

Workbook Statistics

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$12\%$

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$23$ Required:

Calculate the Materials Price, Quantity, and Spending Variance.

Calculate the Direct Labor Rate, Efficiency, and Spending Variance.

Calculate the Variable Overhead Rate, Efficiency, and Spending Variance.

Hint: Use the ABS$()$ function to calculate amounts.

$\backslash$table$[[$Direct Materials Variances$],[$Actual $$ Actual,,,Actual $$ Standard,$1,,$Standard $$ Standard$],[,AQ,,AP,,,,AQ,$SP$,,$SQ$,SP$