Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer question marks with excel formulas so I can understand how to complete the assignment. Thank you! D E G H M N FLEXIBLE
please answer question marks with excel formulas so I can understand how to complete the assignment. Thank you!
D E G H M N FLEXIBLE BUDGET ANALYSIS IS ALWAYS ON ACTUAL OUTPUT BASIS Spending Variance Standard Price $4.00 per pound 522.00 per hour $6.00 per hour Actual output x actual quantity times Actual price per unit compared to 2,000 units Actual output x standard quantity times Standard price per unit Actual price $3.80 per pound $21.60 per hour Price Variance Actual output x actual quantity times Actual price per unit Actual output x actual quantity times Standard price per unit Quantity Variance 1 Chapter 9: Applying Excel 2 3 Data 4 Exhibit 9-8: Standard Cost Card 5 57 Inputs Standard Quantity 6 Direct materials 3.0 pounds 7 Direct labor 0.50 hours 3 Variable manufacturing overhead 0.50 hours 9 10 Actual results: 11 Actual output 12 Actual variable manufacturing overhead cost 57.140 13 Actual Quantity 14 Actual direct materials cost 6,500 pounds 15 Actual direct labor cost 1,050 hours 16 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 9 9 20 Exhibit 9-11: Standard Cost Variance Analysis - Direct Materials 21 Actual Quantity of Input, at Actual Price 2 pounds 22 Actual Quantity of Input, at Standard Price 2 pounds 23 Standard Quantity Allowed for the Actual Output, at Standard Price 2 pounds 24 Direct materials variances: 25 Materials price variance ? 26 Materials quantity variance 27 Materials spending variance ? 28 29 Exhibit 9-12: Standard Cost Variance Analysis-Direct Labor 30 Actual Hours of Input, at Actual Rate 2 hours x 31 Actual Hours of Input, at Standard Rate 2 hours x 32 Standard Hours Allowed for the Actual Output, at Standard Rate 2 hours x 33 Direct labor vanances: 34 Labor rate variance ? 35 Labor efficiency variance ? 36 Labor spending variance ? 37 38 Exhibit 9-13: Standard Cost Variance Analysis-Variable Manufacturing Overhead 89 Actual Hours of Input, at Actual Rate 7 hours 7 hours 30 Actual Hours of Input, at Standard Rate 31 Standard Hours Allowed for the Actual Output, at Standard Rate 7 hours x 2 Variable overhead variances 33 Variable overhead rate variance ? 2 34 Variable overhead efficiency variance 35 Vanable overhead spending variance 2 16 17 ? per pound 2 per pound ? per pound 2 2 2 2 Actual output x actual quantity times Standard price per unit Actual output x standard quantity times Standard price per unit ? ? per hour ? per hour 2 per hour 2 ? ? 2 per hour ? per hour ? per hour = 2Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started