Patterson, Inc. has provided details of its actual cost data for the month. The Controller has asked you to compute the basic variances and the impact of those variances on unit costs. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
I cannot figure out each formula for the cells, Please help :)
I need IF exact formulas, please! A BCD 1 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: $2.75 per yard $2.70 per yard $6.60 $8.10 10.80 3 Direct materials: 4 Standard 2.4 yards @ 5 Actual 3 yards @ 6 Direct labor: 7 Standard 0.6 hours @ 8 Actual 0.5 hours @ 9 Variable overhead: 10 Standard 0.6 hours @ 11 Actual 0.5 hours @ 12 $18.00 per hour $22.00 per hour 11.00 4.20 $7.00 per hour $7.10 per hour TE $2.75 per yard $2.70 per yard $6.60 $8.10 A B C 4 Standard 2.4 yards @ 5 Actual 3 yards @ 6 Direct labor: 7 Standard 0.6 hours @ 8 Actual 0.5 hours @ 9 Variable overhead: 10 Standard 0.6 hours @ 11 Actual 0.5 hours @ 10.80 $18.00 per hour $22.00 per hour 4.20 $7.00 per hour $7.10 per hour 3.55 $2160 $22.65 $1.05 13 Total cost per unit 14 15 Excess of actual cost over standard cost per unit 16 17 Actual production for the month 13,500 units 18 Variable overhead is assigned to products based on direct labor hours. There 19 was no beginning or ending inventory of materials for the month. 20 21 Using formulas, compute the following. Input all numbers as positive amounts. G H Indicate whether the variances are For U. Write if statements for variance cells F30 to F47. Use cell references (formulas) for cells D53 - D60. Enter an For U to indicate the correct variance in cells F54 to F62. 25 Standard Cost Variance Analysis - Direct Materials 26 Standard Quantity Allowed for Actual Output at Standard Price 27 Actual Quantity of Input, at Standard Price 28 Actual Quantity of Input, at Actual Price 89,100 111,375 109,350 2 30 31 Materials quantity variance Materials price variance 33 Standard Cost Variance Analysis - Direct Labor 34 Standard Hours Allowed for Actual Output at Standard Rate 35 Actual Hours of Input, at Standard Rate 36 Actual Hours of Input, at Actual Rate Excel Assignment Saved Help 39 Labor efficiency variance Labor rate variance 40 41 Standard Cost Variance Analysis - Variable Manufacturing Overhead 42 Standard Hours Allowed for Actual Output at Standard Rate 43 Actual Hours of Input, at Standard Rate 44 Actual Hours of Input, at Actual Rate 45 461 Variable overhead efficiency variance 47 Variable overhead rate variance 48 49 Using formulas, compute the amount of the unit cost difference 50 that is traceable to each of the variasses computed above. 51 52 Materials: 53 Quantity variance 54 Price variance Prey 1 of 1 # Next 52 Materials: 53 Quantity variance 54 Price variance 55 Labor: 56 Efficiency variance 57 Rate variance 58 Variable overhead: 59 Efficiency variance 60 Rate variance 62 Excess of actual over standard cost per unit
