Please fill out the following spreadsheet:
Cost Variance and Its Volume and Management Components Cost Variance = Static costs - Actual costs 1,850,000 Volume Variance = Static costs - Flexible costs 1,350,000 Management Variance = Flexible costs - Actual costs 500,000 Profit Variance & Its Revenue & Cost Components Profit Variance = Actual profit - Static Profit #DIV/0! Revenue Variance = Actual revenue - Static revenue Revenue Variance & Its Volume & Price Components Revenue Variance = Actual revenue - Static revenue (1,980,000) Volume Variance = Flexible revenue - Static revenue (900,000) Price Variance = Actual revenue - Flexible revenue (1,080,000) (1,980,000) Cost Variance = Static costs - Actual costs 1,850,000 Management Variance & Its Fixed, Labor & Supplies Components along with Labor Components & Supplies Components Management Variance = Flexible costs - Actual costs 500,000 Fixed Cost Variance = Flexible Fixed costs - Actual Fixed costs 500,000 Labor Cost Variance = Flexible Labor costs - Actual Labor costs Labor Rate Variance = (Static rate - Actual rate) x Actual Labor hrs (92,000) Labor Efficiency Variance = (Flexible hrs - Actual hrs) x Static rate (1,150,000) Supplies Cost Variance = Flexible Supplies costs - Actual Supplies costs Supplies Price Variance = (Static price - Actual price) x Actual units 9,000 Supplies Usage Variance = (Flexible units - Actual units) Static price (135,000) Cost Variance and Its Volume and Management Components Cost Variance = Static costs - Actual costs 1,850,000 Volume Variance = Static costs - Flexible costs 1,350,000 Management Variance = Flexible costs - Actual costs 500,000 Profit Variance & Its Revenue & Cost Components Profit Variance = Actual profit - Static Profit #DIV/0! Revenue Variance = Actual revenue - Static revenue Revenue Variance & Its Volume & Price Components Revenue Variance = Actual revenue - Static revenue (1,980,000) Volume Variance = Flexible revenue - Static revenue (900,000) Price Variance = Actual revenue - Flexible revenue (1,080,000) (1,980,000) Cost Variance = Static costs - Actual costs 1,850,000 Management Variance & Its Fixed, Labor & Supplies Components along with Labor Components & Supplies Components Management Variance = Flexible costs - Actual costs 500,000 Fixed Cost Variance = Flexible Fixed costs - Actual Fixed costs 500,000 Labor Cost Variance = Flexible Labor costs - Actual Labor costs Labor Rate Variance = (Static rate - Actual rate) x Actual Labor hrs (92,000) Labor Efficiency Variance = (Flexible hrs - Actual hrs) x Static rate (1,150,000) Supplies Cost Variance = Flexible Supplies costs - Actual Supplies costs Supplies Price Variance = (Static price - Actual price) x Actual units 9,000 Supplies Usage Variance = (Flexible units - Actual units) Static price (135,000)
