Required information Revise the data in your worksheet to reflect the results for the subsequent period as shown below. B D E ok ws Standard Quantity 3.0 pounds 0.50 hours 0.50 hours $ $ $ 1 Chapter 09: Applying Excel 2 3 Data Exhibit 9-8: Standard Cost Card 4 Inputs 5 Direct materials 6 Direct labor 7 Variable manufacturing overhead 8 9 Actual results: 10 Actual output 11 Actual variable manufacturing overhead cost 12 Actual direct materials cost 13 Actual direct labor cost 14 15 Standard Price 4.00 per pound 22.00 per hour 6.00 per hour int ence 2,130 units $5,600.00 Actual Quantity 6,230 pounds 875 hours Actual price $ 4.30 per pound $ 22.40 per hour -- 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 effectie, zero variancell 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 [le, mere variance) The amount of the materials price variance b-1. What is the labor efficiency variance? Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effecte, zero variancell. 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 (l.e., zero variance). Round your final answer to nearest whole dollar amount.) The amount of the labor rate variance c-t 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 (.e., zero variance)). The amount of the variable overhead efficiency variance 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 file., zero variancell The amount of the variable overhead rate variance Draw Formulas Data Page Layout Home Insert Review View 2 Wrap Text Ger Arial 10 ' ' aAv Paste B IU ilil Merge & Center A1 Xfx Chapter 9: Applying Excel D E F Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $3.80 per pound $21.60 per hour 7 per pound = 7 per pound 7 per pound 7 ? 7 3 Data 4 Exhibit 9-8: Standard Cost Card 5 Inputs Standard Quantity 6 Direct materiais 3.0 pounds 0.50 hours 7 Direct labor 0.50 hours 8 Variable manufacturing overhead 9 10 Actual results: 11 Actual output 2.000 units 12 Actual variable manufacturing overhead cost $7.140 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 7 below 18 Main Example: Chapter 9 19 20 Exhibit 9-11: Standard Cost Variance Analysis - Direct Materials 21 Actual Quantity of Input, at Actual Price 7 pounds 22 Actual Quantity of Input, at Standard Price 7 pounds 23 Standard Quantity Allowed for the Actual Output, at Standard Price ? pounds 24 Direct materiais variances: 25 Materials price variance ? 26 Materials quantity variance 7 27 Materials spending variance 2 28 29 Exhibit 9-12: Standard Cost Variance Analysis - Direct Labor 30 Actual Hours of Input, at Actual Rate 7 hours 31 Actual Hours of Input, at Standard Rate 7 hours 32 Standard Hours Allowed for the Actual Output, at Standard Rate 7 hours 33 Direct labor variances: 34 Laborrate variance ? 35 Labor efficiency variance 7 36 Labor spending variance 7 37 38 Exhibit 9-13: Standard Cost Variance Analysis - Variable Manufacturing Overhead 39 Actual Hours of Input, at Actual Rate 7 hours 40 Actual Hours of Input, at Standard Rate 7 hours 41 Standard Hours Allowed for the Actual Output, at Standard Rate 7 hours 42 Variable overhead variances: Variable overhead rate variance ? 44 Variable overhead efficiency variance ? 45 Variable overhead spending variance 2 ? per hour ? per hour 2 per hour ? ? ? 7 per hour 7 per hour 7 per hour ? 7. ? Chapter 9 Form + 29 Mace
