Directions: Each team will be required to bake a batch of brownies. The object of the project is to measure your batch of brownies' actual costs versus a set of standard costs that I developed. Each team will be required to purchase a list of ingredients to make the brownies. Note: you must purchase the exact same quantity of materials as the standards set below, For example, when buying vegetable oil, you need to buy 24oz. bottle. The team needs to record how long it takes to make the brownies (from the time your start to combine the ingredients until the last bateh is taken out of the oven). We will only measure the direct materials and direct labor variances. You will be required to enter the cost information on the respective spreadsheets for direct materials and direct labor. You will be required to input formulas to calculate the price and quantity variances for direct materials and the rate and efficiency variance for direct labor. The purpose of the project is not to have pero variances--in fact variances are encouraged! Carefully read the directions on each spreadsheet. You will submit the finished project via Canvas by midnight on the due date. Note: You wat have to make up an artitrary amount for the quantly, since the only way there would be a quantly varance wosid be if you spiled some of the ingredients. Make the mumber is somewhere between . 90 and 1.20 (excluding 1.00 ) Standard Quantity Acbual Quantity Direct Materials Variances Rate Note: The rate is quoted per minute of lobor. Piease make up an ablrary lapor mate per minute for your team and onter t in the highighted cel Make the number somewhere between $40 and $75 (excluding $.50 ). Standard Rate/Minute $0.50 Actual Rate/Minute 0.46 Efficiency Note: Enter the actual number of minutes your team look to make at the brownies from the time you started putting the ingredients logether until the brownies were taken out of the oven. Standard Minutes Allowed Per Bateh 45 minutes Actual Minutes 60 minutes Direct Labor Variances Note intert formulas in the highlyhted cels with formula in them. Make sure you hdicate whether or not the varances are favorable of unfavorable Favintav Directions: Each team will be required to bake a batch of brownies. The object of the project is to measure your batch of brownies' actual costs versus a set of standard costs that I developed. Each team will be required to purchase a list of ingredients to make the brownies. Note: you must purchase the exact same quantity of materials as the standards set below, For example, when buying vegetable oil, you need to buy 24oz. bottle. The team needs to record how long it takes to make the brownies (from the time your start to combine the ingredients until the last bateh is taken out of the oven). We will only measure the direct materials and direct labor variances. You will be required to enter the cost information on the respective spreadsheets for direct materials and direct labor. You will be required to input formulas to calculate the price and quantity variances for direct materials and the rate and efficiency variance for direct labor. The purpose of the project is not to have pero variances--in fact variances are encouraged! Carefully read the directions on each spreadsheet. You will submit the finished project via Canvas by midnight on the due date. Note: You wat have to make up an artitrary amount for the quantly, since the only way there would be a quantly varance wosid be if you spiled some of the ingredients. Make the mumber is somewhere between . 90 and 1.20 (excluding 1.00 ) Standard Quantity Acbual Quantity Direct Materials Variances Rate Note: The rate is quoted per minute of lobor. Piease make up an ablrary lapor mate per minute for your team and onter t in the highighted cel Make the number somewhere between $40 and $75 (excluding $.50 ). Standard Rate/Minute $0.50 Actual Rate/Minute 0.46 Efficiency Note: Enter the actual number of minutes your team look to make at the brownies from the time you started putting the ingredients logether until the brownies were taken out of the oven. Standard Minutes Allowed Per Bateh 45 minutes Actual Minutes 60 minutes Direct Labor Variances Note intert formulas in the highlyhted cels with formula in them. Make sure you hdicate whether or not the varances are favorable of unfavorable Favintav
