Please refer to the Excel template for the variance analysis spreadsheet. You are to complete the variances listed for direct materials, direct labor, variable overhead, and fixed overhead. All information necessary is listed in the problem areas, above the variance calculation area. If any errors are discovered, consider the Excel data correct. Direct Labor is based on DLHs, Variable Overhead is based on machine hours (MH). All per unit rotes are taken to 3 decimal places. Actual/Standard Direct Materials Direct Labor Variable MO Fixed MO Production Units Actual 52,350 52,350 52,350 52,350 Standard 4.250 Standard $7.425 0.265 Standard Standard DM units per finished unit Standard DM unit price Standard DLH's per finished unit Standard DLH rate Standard VOH MH's per finished unit Standard VOH POR rate per MH $14.990 Standard 3.500 Standard $26.085 Standard 8.250 Standard Standard FOH MH's per finished unit Standard FOH POR rate per MH $6.750 Standard Actual 220,790 Actual $7.500 Actual 14,080 $14.910 Actual Actual DM units purchased & used Actual DM unit price Actual DLHS Actual DLH rate Actual VOH MHS Actual VOH POR per MH Actual FOH cost Budget FOH cost Actual 181,560 Actual $26.200 Actual $2,975,900 $3,108,667 Actual Production units 3 4 Standards Std. Quantity Std. Price 5 Material 5 7 Actuals: Act. Quantity Act. Price 8 Material 9 10 11 Material price variance 12 AP SP Variance Quantity Total Variance F/U 13 14 15 Material quantity variance 16 AQ sQ Variance Price Total Variance F/U 17 18 19 Total material variance 20 Total Actual Total Standard Total Variance F/U 21 22 24 25 Debit Account Credit Account Debit Amount Credit Amount 26 R/M Inventory 27 28 Accounts Payable 29 30 WIP 31 32 R/M Inventory 35 36 Production units 37 38 Standards: Std. DL Hours Std. Rate 39 Labor 40 41 Actuals: Act, DL Hours Act. Rate 42 Labor 43 44 45 Labor rate variance 46 AR SR Variance Quantity Total Variance F/U 47 48 49 Labor efficiency variance 50 AH SH Variance Rate Total Variance F/U 51 52 53 Total labor variance 54 Total Actual Total Standard Total Variance F/U 55 56 58 59 Debit Account Credit Account Debit Amount Credit Amount 60 WIP 61 62 63 Payroll Payable 64 65 Total J/E 70 Production units 72 Standards: Std. MH Hours Std. Rate 73 VOH 74 75 Actuals: Act. MH Hours Act. Rate 76 VOH 77 78 79 VOH spending variance 80 AR SR Variance Quantity Total Variance F/U B2 B3 VOH efficiency variance AH SH Variance Rate Total Variance F/U 35 36 37 Total VOH variance 38 Total Actual Total Standard Total Variance F/U 89 0 91 92 93 Debit Account Credit Account Debit Amount Credit Amount 94 WIP 95 96 97 VOH Control 98 99 Total J/E 100 101 102 103 104 105 Standards: Std. MH Hours Std. Rate 106 FOH 107 108 Actuals: Actual FOH Budget FOH 109 FOH 110 111 .12 FOH spending variance 13 Actual FOH Budgeted FOH Total Variance F/U 14 15 16 FOH volume variance 17 Budgeted FOH Applied FOH Total Variance F/U 18 19 20 Total FOH variance 21 Total Actual Total Standard Total Varlance F/U 22 22 24 25 26 Debit Account Credit Account Debit Amount Credit Amount 27 WIP 28 29 30 FOH Control 1 2 Total J/E 33 34
