Chapter 8: Applying Excel Data Exhibit 8-8: Standard Cost Card Standard Quant Standard Price $4.00 per pound 22.00 $6.00 per hour uts Direct materials Direct labor Variable manufacturing overhead 3.0 pounds 0.50 hours 0.50 hours r hour Actual results Actual output Actual variable manufacturing overhead cost 2,000 units $7,140 Actual Quantity Actual price $3.80 per pound 21.60 Actual direct materials cost 6,500 pounds 1,050 hours Actual direct labor cost r hour Enter a formula into each of the cells marked with a? below Main Example: Chapter 8 Exhibit 8-11: 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 ? pounds x ? ounds ? pounds x ? per pound ound- ? per pound Materials quantity variance Materials price variance Materials spending variance Exhibit 8-12: Standard Cost Variance Analysis-Direct Labor Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Direct labor variances ? hours x ? hours x ? hours x ? per hour ? per hour- ? per hour- Labor efficiency variance Labor rate variance Labor spending variance Exhibit 8-13: Standard Cost Variance Analysis-Variable Manufacturing Overhead Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Variable overhead variances ? hours x ? hours x ? hours x ? per hour ? per hour ? per hour- Variable overhead efficiency variance Variable overhead rate variance Variable overhead spending variance