Download the Applying Excel form and enter formulas in all cells that contain question marks.

For example, in cell D21 enter the formula = D14.

Notes:

In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell B25 would be =ABS(F21F22).

• Cells C25 through C27, C34 through C36, and C43 through C45 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cellsif you do, you will overwrite these formulas.
• After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text.

Check your worksheet by changing the direct materials standard quantity in cell B6 to 2.9 pounds, the direct labor standard quantity in cell B7 to 0.6 hours, and the variable manufacturing overhead in cell B8 to 0.6 hours. The materials spending variance should now be $1,500 U, the labor spending variance should now be $3,720 F, and the variable overhead spending variance should now be $60 F. If you do not get these answers, find the errors in your worksheet and correct them.

Save your completed Applying Excel form to your computer and then upload it here by clicking Browse. Next, click Save. You will use this worksheet to answer the questions in Part 2.

ONLY FORMULAS PLEASE IN THE CELLS

Chapter_10_Applying_Excel_Student_Form (3).xls (Compatibility Mode] - Excel X ? - o Anshika Singh - PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT % Cut Arial Copy - Paste Format Painter B I Clipboard n 3 Wrap Text Merge & Center - General $ - % Normal_Proc... Normal 8. H D Currency 2 Conditional Format as Percent 2 Formatting Table Styles - 10 A A === U - 3. A Font fc Chapter 10: Applying Excel Insert Delete Format AutoSum' Fill- Clear Filter Select Editing Alignment E Number Cells A1 : X B C D E F G H I J K L M N O P Q R S T U V W X Y Z 1 Chapter 10: Applying Excel 6 7 8 Data Eshiti 16-2- Standard Cost Card Igou's Direot materials Direct labor Variable manufacturing overhead Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price $4.00 per pound $22.00 per hour $6.00 per hour 10 11 12 Actual results: Actual output Actual variable manufacturing overhead cost 2,000 units $7.140 Aval Quantity 6,500 pounds 1,050 hours 14 15 Actual direct materials cost Actual direct labor cost Avamice $3.80 per pound $21.60 per hour 17 Enter a Kumwa into each of the cells marked with a Phelon 18 Main Example: Chapter 10 ? per pound - ? per pound = ? per pound ? 20 Ernidir 10-4: Standard Cosi Variance Analysis - Direct Materials 21 Actual Quantity of Input, at Actual Price ? pounds x 22 Actual Quantity of Input, at Standard Price ? pounds x 23 Standard Quantity Allowed for the Actual Output, at Standard Price ? pounds 24 Direct materials variances: 25 Materials price variance 26 Materials quantity variance 27 Materials spending variance 28 29 Eriti 16-6- Standard Cost Variance Analysis - Direct Labor 30 Actual Hours of Input, at Actual Rate ? hours x 31 Actual Hours of Input, at Standard Rate ? hours x 32 Standard Hours Allowed for the Actual Output, at Standard Rate ? hours x 33 Direct labor variances: 34 Labor rate variance 35 Labor efficiency variance 36 Labor spending variance ? ? per hour = ? per hour ? per hour = ? ? ? 37 ? ? ? 38 Erhibi 16-- Standard' Cosi Variance Analysis - Variable Manufacturing Overhead 39 Actual Hours of Input, at Actual Rate ? hours x ? per hour = 40 Actual Hours of Input, at Standard Rate ? hours x ? per hour 41 Standard Hours Allowed for the Actual Output, at Standard Rate ? hours x ? per hour = 42 Variable overhead variances: 43 Variable overhead rate variance 44 Variable overhead efficiency variance 45 Variable overhead spending variance 46 47 48 Chapter 9 Form