Cells with "?" need formulas.

1 Chapter 10: Applying Excel 3 Data 4 Exhibit 10-1: Standard Cost Card Inputs 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price $4.00 per pound $22.00 per hour $6.00 per hour 2,000 units $7,140 Actual Quantity 6,500 pounds 1,050 hours Actual price $3.80 per pound $21.60 per hour 10 Actual results: 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 16 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 10 19 20 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials 21 Standard Quantity Allowed for the Actual Output, at Standard Price 22 Actual Quantity of Input, at Standard Price 23 Actual Quantity of Input, at Actual Price 24 Direct materials variances: 25 Materials quantity variance 26 Materials price variance 27 Materials spending variance ? ? pounds x ? pounds x ? pounds x ? per pound = ? per pound = ? per pound = 28 ? hours x ? hours ? hours x ? per hour = ? per hour = ? per hour = 29 Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor 30 Standard Hours Allowed for the Actual Output, at Standard Rate 31 Actual Hours of Input, at Standard Rate 32 Actual Hours of Input, at Actual Rate 33 Direct labor variances: 34 Labor efficiency variance 35 Labor rate variance 36 Labor spending variance 37 38 Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead 39 Standard Hours Allowed for the Actual Output, at Standard Rate 40 Actual Hours of Input, at Standard Rate 41 Actual Hours of Input, at Actual Rate 42 Variable overhead variances: 43 Variable overhead efficiency variance 44 Variable overhead rate variance 45 Variable overhead spending variance ? hours x ? hours x ? hours ? per hour = ? per hour = ? per hour = Chapter 10 Applying Excel (A) Saved Part 2 of 2 Required information The Chapter 10 Form worksheet is to be used to create your own worksheet version of the main example in the text. points Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: C D eBook 1 Chapter 10: Applying Excel 3 Print Data Exhibit 10-1: Standard Cost Card Inputs Direct materials Direct labor Variable manufacturing overhead Reference b 7 Standard Quantity 3.0 pounds 0.50 hours 0.50 hours $ $ $ Standard Price 4.00 per pound 22.00 per hour 6.00 per hour 9 10 Actual results: Actual output Actual variable manufacturing overhead cost $ 1,930 units 5,713 Actual Quantity 5,630 pounds 985 hours Actual direct materials cost Actual direct labor cost $ $ Actual price 4.20 per pound 22.10 per hour a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the materials quantity variance a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance)). The amount of the materials price variance Chapter 10 Applying Excel (A) O Saved Required information Part 2 of 2 b-1. What is the labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). points The amount of the labor efficiency variance eBook Print Reference b-2. What is the labor rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your final answer to nearest whole dollar amount.) The amount of the labor rate variance C-1. What is the variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the variable overhead efficiency variance c-2. What is the variable overhead rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance)). The amount of the variable overhead rate variance Chapter 10 Applying Excel (B) Saved Required information The Chapter 10 Form worksheet is to be used to create your own worksheet version of the main example in the text. points Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: eBook D E Print 1 Chapter 10: Applying Excel Reference Data Exhibit 10-1: Standard Cost Card Inputs Direct materials 6 Direct labor 7 Variable manufacturing overhead Standard Quantity 3.0 pounds 0.50 hours 0.50 hours $ $ $ Standard Price 4.00 per pound 22.00 per hour 6.00 per hour 81 9 Actual results 10 Actual output 11 Actual variable manufacturing overhead cost $ 1,860 units 5,452 Actual Quantity 5,410 pounds 940 hours Actual direct materials cost Actual direct labor cost $ $ Actual price 3.70 per pound 21.80 per hour 15 a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the materials quantity variance a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the materials price variance