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please provide the Excel formulas for each spot Functions: IF; Formula: Multiply, Add, Subtract; Cell Referencing E6.13 - Using Excel to Calculate Variances PROBLEM The
please provide the Excel formulas for each spot
Functions: IF; Formula: Multiply, Add, Subtract; Cell Referencing E6.13 - Using Excel to Calculate Variances PROBLEM The following information is available for Coady's Chocolates: Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem or work area as indicated. Use the IF function to denote if each variance is Favorable or Unfavorable. a. Calculate the direct materials price and quantity variances. Actual production, boxes 3,400 Budgeted production, boxes 3,000 Direct materials standards Pounds of chocolate per box 3 Cost per pound $ 6.00 Actual direct materials Pounds of chocolate purchasec 9,000 Pounds of chocolate used 9,500 Cost per pound 6.10 AQ x AP AQ SP $ Direct Materials Price Variance AQ SP SQ x SP Direct Materials Quantity Variance b. What might have caused the variances you calculated? Coady's Chocolates appears to have purchased a chocolate at a than the standard specified. The chocolate appears to have been processed the standard quality, requiring to complete the production runStep by Step Solution
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