DMP AutoSave om 8 - Final Project (1)xlsx - Saved File Home Insert Draw Page Layout Formulas Data Review View Help A x cut LL Calibri 11 A A = = Wrap Test [b Copy - Format Painter BIU B OA ESSE Merge & Center - Clipboard Alignment General $ % % Number B14 E IGH 1 Access the D21. quiz and enter the data amounts from the quiz in the light blue cells 2 EACH STUDENT WILL HAVE DIFFERENT DATA THAT IS GENERATED FROM THE QUIZ. 3 YOU MUST USE THE DATA FROM YOUR QUIZ TO RECEIVE CREDIT. (1) (1) (2) 5 Standard Cost Card for One Unit: Standard Standard Standard Quantity Price Cost 7 Inputs: or Hours Or Rate 8 Direct Materials 5 pounds $ 2 per pound 9 Direct Labor 1.8 hours 20 per hour 10 Variable Manufacturing Overhead 0.6 hours $ 11 per hour 11 Total Standard cost per unit 13 Number of Actual Units Produced 11.100 14 15 During the current month, the costs associated with the actual units produced were: 16 Cost of materials purchased $127,500 17 Pounds of materials purchased 60,500 pounds 18 Materials used in production 60,500 pounds 19 Direct labor used 20,000 hours 20 Direct labor rate $19.50 Variable manufacturing overhead 21 costs incurred $92,400 23 REQUIRED: COMPUTE THE DIRECT MATERIALS, DIRECT LABOR, AND VARIABLE MANUFACTURING VARIANCES: 25 SUMMARY OF VARIANCE: Favorable (F) Unfavorable (U) Amount 27 Material price variance 28 Material quantity variance 29 Labor rate variance 30 Labor efficiency variance 31 Variable overhead rate variance 32 Variable overhead efficiency variance 33 Net variance Budgeting Hexble performance report Variance analysis Decision Making Tools