Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Chapter 10: Applying Excel (Algo) (L010-1, LO10-2, LO10-3) The Chapter 10 Form worksheet is to be used to create your own worksheet version

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information Chapter 10: Applying Excel (Algo) (L010-1, LO10-2, LO10-3) The Chapter 10 Form worksheet is to be used to create your own worksheet version of the main example in the text. Chapter 10: Applying Excel: Exercise (Part 2 of 2) (Algo) Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: Required information A B D E 1 Chapter 10: Applying Excel 2 3 4 Data Exhibit 10-1: Standard Cost Card Inputs Direct materials 5 Standard Price 6 Standard Quantity 3.0 pounds 0.50 hours $ $ N Direct labor Variable manufacturing overhead 4.00 per pound 22.00 per hour 6.00 per hour 8 0.50 hours $ 9 10 11 Actual results: Actual output Actual variable manufacturing overhead cost 2,030 units 12 $ 6,432.00 13 14 Actual Quantity 5,875 pounds 1,005 hours $ Actual direct materials cost Actual direct labor cost Actual price 4.20 per pound 22.50 per hour $ 15 a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the materials quantity variance a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the materials price variance b-1. What is the labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the labor efficiency variance b-2. What is the labor rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your final answer to nearest whole dollar amount.) The amount of the labor rate variance c-1. What is the variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the variable overhead efficiency variance c-2. What is the variable overhead rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the variable overhead rate variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Lawyers And The Proceeds Of CrimeThe Facilitation Of Money Laundering And Its Control

Authors: Katie Benson

1st Edition

1138744867, 9781138744868

More Books

Students also viewed these Accounting questions

Question

Fricent of Selea Method

Answered: 1 week ago

Question

16.7 Describe the three steps in the collective bargaining process.

Answered: 1 week ago