Chapter 10: Applying Excel 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 B Data 4 Exhibit 10-1: Standard Cost Card Inputs 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead 19 10 Actual results 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 16 2,000 units $7,140 Actual Quantity 6,500 pounds 1,050 hours Actual price $3.80 per pound $21.60 per hour Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 ? Exhibit 10-4: Standard Cost Variance Analysis - Direct Materials Standard Quantity Allowed for the Actual Output, at Standard Price Actual Quantity of Input, at Standard Price Actual Quantity of Input, at Actual Price Direct materials variances: Materials quantity variance Materials price variance Materials spending variance 2 pounds 2 pounds 2 pounds per pound ? per pound ? per pound ? 2 ? ? ? 2 7 hours x 2 hours 2 hours x Exhibit 10-6: Standard Cost Variance Analysis - Direct Labor Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate 2 Actual Hours of Input, at Actual Rate 3 Direct labor variances 14 Labor efficiency variance 35 Labor rate variance 36 Labor spending variance 27 ? per hour 2 per hour 2 per hour 2 2 2 7 2 2 38 Exhibit 10-8: Standard Cost Variance Analysis - Variable Manufacturing Overhead 39 Standard Hours Allowed for the Actual Output, at Standard Rate 2 hours x 40 Actual Hours of Input, at Standard Rate ? hours 41 Actual Hours of Input, at Actual Rate 2 hours x 42 Variable overhead variances: Variable overhead efficiency variance 2 44 Variable overhead rate variance ? 45 Variable overhead spending variance ? 46 ? per hour = ? per hour ? per hour ? ? ? 43