Data Exhibit 8-8: Standard Cost Card inputs Standard Quantity Standard Price $4.00 per pound 3.0 pounds Direct materials $22.00 per hour 0.50 hours Direct labor 0.50 hours $6.00 per hour Variable manufacturing overhead Actual results 2,000 units Actual output Actual variable manufacturing overhead cost Actual price Actual Quantity 6.500 pounds Actual direct materials cost $3.80 per pound 1.050 hours $21.60 per hour Actual direct labor cost 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 pounds x per pound Standard Quantity Allowed for the Actual output, at Standard Price pounds x per pound Actual Quantity of Input, at Standard Price per pound Actual Quantity of Input, at Actual Price pounds x Direct materials variances: Materials quantity variance Materials price variance Materials spending variance Exhibit 8-12: Standard Cost Variance Analysis-Direct Labor hours x per hour Standard Hours Allowed for the Actual Output, at Standard Rate hours x per hour Actual Hours of Input, at Standard Rate hours x per hour Actual Hours of Input, at Actual Rate Direct labor variances: Labor efficiency variance Labor rate variance Labor spending variance Exhibit 8-13: Standard Cost Variance Analysis-Variable Manufacturing Overhead hours x per hour Standard Hours Allowed for the Actual Output, at Standard Rate hours x per hour Actual Hours of Input, at Standard Rate hours x per hour Actual Hours of Input, at Actual Rate Variable overhead variances: Variable overhead efficiency variance Variable overhead rate variance Variable overhead spending variance