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4 The primary purpose of this assigrment is to glva you precice calculating variances. The Templato8 variances you need to calculate are described under the requirements heading belaw. G The secondary purpose of this assignment is to improve your proficienay in using Excel as a too 7 for analsis (as opposed bo a word processor). irect Materials Actua Cost Actual Input Quantity Standard) Price Usege Example >661,254 REQUIRED: Al yellow areas in the templates provided must contain formulas 10 referencing other cells. Do not just type the number $661,254 in cell E6. Rather 11 enter te formula 10 calculate his number. Indicate whether variances are favorable FAV)or 12 unfavorable (UNF) in the "green" cells beside each variance amount 13 14 SUBMISSION: You must submit this Excel fie (1) with the yellow and green blocks completed and 15 (2) with the gray shaded areas belaw completed re: narrative analysis. When you submit your file 16 you must name the file in this format: acc-3365-Excel-2-first initial&last name such as aco-3365-Excel-2-CConn 17 Be certain to include your full name in the cell on the right side of the first linc (above) 18 Assignment w not be occoptod late othor than due to emorgency stuanons as doscribed in the sywabus. 19 20 PROBLEM: Patterson Awring manufactures awnings ard uses a standard cost system. The company 21 alocatee OH based on the number of DL hours. Folowing are tha company's cost and standards data: Price Variance Elmciency Varieance NOTE: There is N"total" variance because Price & Efficiency Variances are measured at different times. Actual Input Quantity 23 Standards: 24 Direct Materials 25 Yards per awning 26 Price per yard 27 Direct Labor 28 Hours per awning 29 Rate per hour 30 Varable MOH standard rate per direct labor hour 31 Fixed MCH standard rate per direct labor hour 32 Total budgeted fixed MOH cost Flexible Bud Standard) Price 22.00 yards 13.00 5.00 hours 15.00 8.00 6.00 Price Variance Emcioncy Variance Flexible Budget (TOTAL) Variance S 83,500 34 Actual Input Cuantity x Bu Actual cost and data from the current month: Number of yards purchased Cost of yards purchased Number of yards used Number of awrirga produced Actual drect labor hours 51,260S 12 90 Cost Standard) Price Allocated S 661,254 36 37 38 39 47,500 yards -SAME-> 10,850 15 15.50 NONE Data Templates +