Need help with some corrections... but need it by tonight. (should be simple corrections but still need help.

Pet Palace	Dog Den	Cat Castle
Direct Material Price Variance	Direct Material Price Variance	Direct Material Price Variance
quantity (Actual price- Std. price)	quantity (Actual price- Std. price)	quantity (Actual price- Std. price)
= 140($1.06-$1)	= 190($3.24-$3.25)	= 350($2.55-$2.80)
= $8.4 (F) U	= $1.9 (F) ok	= $87.5 (F) ok
Direct Material Quantity Variance	Direct Material Quantity Variance	Direct Material Quantity Variance
= Std. Price (Actual Quantity -Std. Quantity)	= Std. Price (Actual Quantity -Std. Quantity)	= Std. Price (Actual Quantity -Std. Quantity)
= $3.25 ( Act Q from Job Sheet minus Standard Q sq ft of carpet allowed for Actual output of 50 dens)	= $2.80 ( Act Q from Job Sheet minus Standard Q bd feet of wood allowed for Actual output of 64 castles)
= $1(140- 28*5)
= $0 ok	= $32.5(F)	= $95.2(F)
Direct Material Spending Variance	Direct Material Spending Variance	Direct Material Spending Variance
= $8.4 (F) ok	= $1.9 (F)	= $87.5 (F)

No total material spending variance can be determined because the amount of material purchased ? the amount used

Calculate the Rate and Efficiency Variances for Direct Labor for the Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances. Show the total Labor Spending Variance for each product.

1) Labor rate variance	1) Labor rate variance	1) Labor rate variance
= Ah * (AR-SR)	= Ah * (AR-SR)	= Ah * (AR-SR)
= 66 hrs ($19.40- $ 19.40)	= 121 hrs ($20.52- $ 19.40)	= 188 hrs ($18.71- $ 19.40)
=$0 ok	=$135.52 (UF) ok	=$129.72 (F) ok
2) Labor efficiency variance	2) Labor efficiency variance	2) Labor efficiency variance
= SR *(AH-SH)	= SR *(AH-SH)	= SR *(AH-SH)
= $19.40 (66 - 28*2.4)	= $19.40 (121 -50*2.3)	= $19.40 (188 -64*3.1)
=$23.28(F) ok	=$116.4(UF) ok	=$201.76 (F) ok
Direct laborSpending Variance	Direct laborSpending Variance	Direct laborSpending Variance
=$0 ok	=$251.92 U	=$334.48 (F) ok

Calculate the Rate and Efficiency Variances Variable Overhead Variances for Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances . Show the total Variable Overhead Spending Variance for each product..

1) Variable Overhead rate variance	1) Variable Overhead rate variance	1) Variable Overhead rate variance
= Ah * (AR-SR)	= Ah * (AR-SR)	= Ah * (AR-SR)
= ($32.50- $66* .50)	= ($60- 121*.48)	= ($84- 188*.46)
=$.5 (F) ok	=$.5 (F)	=$2.48 (F)
2) Variable Overhead efficiency variance	2) Variable Overhead efficiency variance	2) Variable Overhead efficiency variance
= SR *(AH-SH)	= SR *(AH-SH)	= SR *(AH-SH)
	= $.48(121 -50*2.3)	= $.46(188 -64*3.1)
	Equation is right
=$.6(F) ok	=$55.2(UF)	=$4.78 (F)
Variable Overhead Spending Variance	Direct laborSpending Variance	Direct laborSpending Variance
=$1.10 (F)	=$.5 (F)	=$7.26 (F)

PART B: INTERPRETATION

After the calculating the variances, interpret their meaning by: (1) Offering a conclusion on how the Production Supervisor for each product is doing

There are 3 Production Supervisors, one for each product. (2) Offering a conclusion on how the Purchasing Manager for all raw materials is doing. Peter?s Pet Toys has one single, company-wide Purchasing Manager.

Favorable price variance should be reported to the purchasing manager who is

responsible for negotiating the good price for the company

For favorable quantity variance the production manager

is responsible for the efficiency of the workers for producing good quality

of material .

The question asks about these managers and how they are doing.

Pet Palace Dog Den Direct Material Price Variance Cat Castle Direct Material Price Variance =Actual quantity (Actual price- Std. price) Direct Material Price Variance =Actual quantity (Actual price- Std. price) =Actual quantity (Actual price- Std. price) = 140($1.06-$1) = 190($3.24-$3.25) = 350($2.55-$2.80) = $8.4 (F) U = $1.9 (F) ok = $87.5 (F) ok Direct Material Quantity Variance Direct Material Quantity Variance = Std. Price (Actual Quantity -Std. Quantity) Direct Material Quantity Variance = Std. Price (Actual Quantity -Std. Quantity) = Std. Price (Actual Quantity -Std. Quantity) = $2.80 ( Act Q from Job Sheet = $3.25 ( Act Q from Job Sheet minus minus Standard Q sq ft of carpet allowed for Actual output Standard Q bd feet of wood allowed for Actual output of 64 castles) of 50 dens) = $1(140- 28*5) = $0 ok = $32.5(F) Direct Material Spending Variance = $95.2(F) Direct Material Spending Variance = $8.4 (F) ok Direct Material Spending Variance = $1.9 (F) = $87.5 (F) No total material spending variance can be determined because the amount of material purchased the amount used Calculate the Rate and Efficiency Variances for Direct Labor for the Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances. Show the total Labor Spending Variance for each product. 1) Labor rate variance 1) Labor rate variance = Ah * (AR-SR) Labor rate variance = Ah * (AR-SR) = 66 hrs ($19.40- $ 19.40) = Ah * (AR-SR) = 121 hrs ($20.52- $ 19.40) =$0 ok 2) 1) = 188 hrs ($18.71- $ 19.40) =$135.52 (UF) ok Labor efficiency variance 2) = SR *(AH-SH) =$129.72 (F) ok Labor efficiency variance 2) = SR *(AH-SH) = $19.40 (66 - 28*2.4) = SR *(AH-SH) = $19.40 (121 -50*2.3) =$23.28(F) ok = $19.40 (188 -64*3.1) =$116.4(UF) ok Direct laborSpending Variance =$201.76 (F) ok Direct laborSpending Variance =$0 ok Labor efficiency variance Direct laborSpending Variance =$251.92 U =$334.48 (F) ok Calculate the Rate and Efficiency Variances Variable Overhead Variances for Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances . Show the total Variable Overhead Spending Variance for each product.. 1) Variable Overhead rate variance 1) Variable Overhead rate variance = Ah * (AR-SR) = SR *(AH-SH) = Ah * (AR-SR) = ($60- 121*.48) =$.5 (F) ok Variable Overhead efficiency variance Variable Overhead rate variance = Ah * (AR-SR) = ($32.50- $66* .50) 2) 1) = ($84- 188*.46) =$.5 (F) 2) Variable Overhead efficiency variance = SR *(AH-SH) =$2.48 (F) 2) Variable Overhead efficiency variance = SR *(AH-SH) = $.48(121 -50*2.3) = $.46(188 -64*3.1) Equation is right =$.6(F) ok Variable Overhead Spending Variance =$1.10 (F) =$55.2(UF) Direct laborSpending Variance =$4.78 (F) Direct laborSpending Variance =$.5 (F) =$7.26 (F) PART B: INTERPRETATION After the calculating the variances, interpret their meaning by: (1) Offering a conclusion on how the Production Supervisor for each product is doing There are 3 Production Supervisors, one for each product. (2) Offering a conclusion on how the Purchasing Manager for all raw materials is doing. Peter's Pet Toys has one single, company-wide Purchasing Manager. Favorable price variance should be reported to the purchasing manager who is responsible for negotiating the good price for the company For favorable quantity variance the production manager is responsible for the efficiency of the workers for producing good quality of material . The question asks about these managers and how they are doing. FINAL PROJECT TO BE COMPLETED WEEK BY WEEK, COMMENTS REVIEWED, THEN COMPILED IN WEEK 8 FOR GRADING This first intro page (1) can be deleted before submission PETER'S PET TOYS makes toys and supplies for cats and dogs out of reusable/recycled materials when possible. All problems and exercises are based on PETER'S PET TOYS. 1 Week 7 (30 PTS) VARIANCE CALCUATION (PART A OF REQUIRED) AND INTERPRETATION (PART B OF REQUIRED). Peter is analyzing past variances reports for material and labor. Standards in effect: Pet Palace DM Standard: 5 lbs Styrofoam at $1.00/lb DL Standard: 2.4 hours at $19.40/hour VOH Standard, based on direct labor hours: 2.4 hours at $0.50/hour. Dog Den DM Standard: 4 sq feet of carpeting at $3.25/sq ft. DL Standard: 2.3 hours at $19.40/hour VOH Standard, based on direct labor hours: 2.3 hours at $0.48/hour. Cat Castle DM Standard: 6 board feet wood at $2.80/board foot. DL Standard: 3.1 hours at $19.40/hour VOH Standard, based on direct labor hours: 3.1 hours at $0.46/hour. Pet Palace Dog Den Cat Castle Output 28 palaces 50 dens 64 castles Job Cost Sheets (for examples, see the Excel doc, \"Job Cost Sheets\") and employee timecards showed the hours worked and wages earned during the time period: Pet Palace Dog Den Cat Castle 66 hours worked at $19.40/hour for total wages of $1280.40 121 hours worked at $20.52 for total wages of $2482.92 188 hours worked for total wages of $3517.48 Job Cost Sheets (for examples, see the Excel doc, \"Job Cost Sheets\") show the following Direct Materials requisitioned for production: Styrofoam..... 140 lbs for production of the Pet Palace. Carpeting......212 sq. ft. for production of the Dog Den. Wood........ 400 bd ft. for production of the Cat Castle. 2 Raw Materials Invoice for the time period showed: Warehouse Suppliers 9876 Stonefield La Mytown, USA 12345 Invoice #8956SL Date: xx/xx/xx Quantity 140 lbs 190 sq ft 350 board feet Item Styrofoam Carpeting Wood Unit Price $1.06/lb $3.24/sq ft $2.55/bd ft Total Total $ 148.40 615.60 892.50 $1656.50 Job Cost Sheets (for examples, see the Excel doc, \"Job Cost Sheets\") show Actual Variable Overhead Manufacturing Costs were Pet Palace Dog Den Cat Castle $32.50 $60.00 $84.00 Required: Use the U-shaped equations for all variance calculations. Part A: CALCULATIONS Calculate Price and Quantity Variances for Direct Materials for Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances. When direct materials purchased = direct materials used in production, show the total Materials Spending Variance for each product. Calculate the Rate and Efficiency Variances for Direct Labor for the Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances. Show the total Labor Spending Variance for each product. Calculate the Rate and Efficiency Variances Variable Overhead Variances for Pet Palaces, Dog Dens, and Cat Castles. That is 6 variances . Show the total Variable Overhead Spending Variance for each product.. Use 2 decimal places for all calculations to show cents. There may be slight rounding errors from truncating decimals to 2 places. Check your variance calculations using the \"Interactive Variance\" Excel doc by doing the following: Clear out all # and input Pet Palace data. Clear out all #s and input Dog Den data. Clear out all #s and input Cat Castle data. 3 PART B: INTERPRETATION After the calculating the variances, interpret their meaning by: (1) Offering a conclusion on how the Production Supervisor for each product is doing. There are 3 Production Supervisors, one for each product. (2) Offering a conclusion on how the Purchasing Manager for all raw materials is doing. Peter's Pet Toys has one single, company-wide Purchasing Manager. Please use complete sentences. Spelling/grammar is graded. 4 Job Cost Sheets show how much Direct Material, Direct Labor and Direct Overhead go into a particular job which creates 1 or more units of output. Dif Here are several examples