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Data: Standard Cost Card Inputs Standard Quantity Standard Price Direct materials 3.0 pounds $4.00 per pound Direct labor 0.50 hours $22.00 per hour Variable manufacturing

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Data: Standard Cost Card
Inputs Standard Quantity Standard Price
Direct materials 3.0 pounds $4.00 per pound
Direct labor 0.50 hours $22.00 per hour
Variable manufacturing overhead 0.50 hours $6.00 per hour
Actual results:
Actual output 2,000 units
Actual variable manufacturing overhead cost $7,140
Actual Quantity Actual price
Actual direct materials cost 6,500 pounds $3.80 per pound
Actual direct labor cost 1,050 hours $21.60 per hour
Enter a formula into each of the cells marked with a ? Below. The variances should be positive numbers so use =ABS() in
your formula. For example, the formula for cell B23 should be =ABS(F19-F20)
Don't change the green cells. Those formulas are 'good.'
Standard Cost Variance AnalysisDirect Materials
Standard Quantity Allowed for the Actual Output, at Standard Price ? pounds ? per pound = ?
Actual Quantity of Input, at Standard Price ? pounds ? per pound = ?
Actual Quantity of Input, at Actual Price ? pounds ? per pound = ?
Direct materials variances:
Materials quantity variance ?
Materials price variance ?
Materials spending variance ?
Standard Cost Variance AnalysisDirect Labor
Standard Hours Allowed for the Actual Output, at Standard Rate ? hours ? per hour = ?
Actual Hours of Input, at Standard Rate ? hours ? per hour = ?
Actual Hours of Input, at Actual Rate ? hours ? per hour = ?
Direct labor variances:
Labor efficiency variance ?
Labor rate variance ?
Labor spending variance ?
Standard Cost Variance AnalysisVariable Manufacturing Overhead
Standard Hours Allowed for the Actual Output, at Standard Rate ? hours ? per hour = ?
Actual Hours of Input, at Standard Rate ? hours ? per hour = ?
Actual Hours of Input, at Actual Rate 1,050 hours $6.80 per hour = $7,140
Variable overhead variances:
Variable overhead efficiency variance ?
Variable overhead rate variance ? F
Variable overhead spending variance ? F

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