INSTRUCTIONS: Prepare the variances and identify whether they are favorable or unfavorable.

The below website will provide further assistance with variances:http://accounting-simplified.com/management/variance-analysis/material/price.html DATA FOR VARIANCE ANALYSIS:

"Standard Hours / Qty" "Standard Rate" "Actual Hours / Qty" "Actual Rate"

Grooming Labor 150 $12.00 180 $11.50

Grooming Materials 1,000 $2.00 1,200 $3.00

Variance "Favorable/Unfavorable"

Groomer Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate $-

Groomer Direct Labor Rate Variance (Actual Rate - Standard Rate) x Actual Hours $-

Direct Materials Quantity/Efficiency Variance (Actual Quantity - Standard Quantity) x Standard Price$-

Direct Materials Price Variance (Actual Price - Standard Price) x Actual Quantity $-