Can you please explain the feedback from my professor. I have attached the submitted homework below.

Fur Baby Day Care and Spa MILESTONE 3 - Variance Analysis INSTRUCTIONS: Prepare the variances and identify whether they are favorable or unfavorable. The below website will provide further assistance with variances: 30 $12.00 360 http://accounting-simplified.com/management/variance-analysis/material/price.html 30 $11.50 345 DATA FOR VARIANCE ANALYSIS: 200 $2.00 400 Standard

Hours / Qty Standard

Rate Actual

Hours / Qty Actual

Rate 200 $3.00 600 Grooming Labor 150 $12.00 180 $11.50 Grooming Materials 1,000 $2.00 1,200 $3.00 Variance Favorable/

Unfavorable Groomer Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate $360.00 Favorable Groomer Direct Labor Rate Variance (Actual Rate - Standard Rate) x Actual Hours $345.00 Unfavorable Direct Materials Quantity/Efficiency Variance (Actual Quantity - Standard Quantity) x Standard Price $400.00 Unfavorable Direct Materials Price Variance (Actual Price - Standard Price) x Actual Quantity $600.00 Favorable

Overall Feedback

Brandy, overall you did well on Milestone Three of the course project. I'm including some guidance below highlighted in blue that should assist in making corrections prior to the next submission.

Variances Tab:

Direct Labor Time Variance

Variance will be unfavorable

Direct Labor Rate Variance:

Standard Formula: DL Rate Variance = (AR - SR) x AH

Specific formula: = ($11.50 - $12.00) x 180 hours

Direct Labor Rate Variance should be favorable.

Direct Material Price Variance:

Standard Formula: DM Price Variance = (AP- SP) x AQ

Specific Formula: =(3-2)*1200

Direct Materials Price Variance should be: Unfavorable

You have now completed all three milestones; congratulations!! The last element remaining is the Final Project which is a PowerPoint presentation as well as the finalized Excel workbook (with any corrections if applicable).

Please be sure to review the detailed instructions and requirements located in the ACC202 Final Project Guidelines and Rubric located in the classroom.

Points are awarded in accordance with the attached grading rubric. If you have any questions at all, please feel free to reach out to me. Prof Brandy