Required information The Chapter 9 Form worksheet is to be used to create your own worksheet version of the main example in the text Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: B D E Chapter 09. Applying Excel 1 2 4 Data Exhibit 9-8: Standard Cost Card mous Direct materials 5 Standard Quantity 3.0 pounds 6 S Standard Price 400 per pound 22.00 per hour 600 per hour 7 0.50 hours 5 8 Direct labor Variable manufacturing overhead 0 50 hours $ Che Required information Variable manufacturing overhead 0.50 hours $ 6.00 per hour 9 $ 10 Actual results 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 1,000 units 7,150.00 Actual Quantity 5.730 pounds 1.100 hours Actual price $ 420 per pound 21 50 per hour $ 4-1 What is the materiais 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 5 360 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 varlance by selecting "F" for favorable, "U" for unfavorable and "None" for no effectie., zero variance)). The amount of the labor efficiency variante 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 overheed 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 varable overhead efficiency variante 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 c E F G 1 Chapter 9: Applying Excel 2 Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price $4.00 per pound $22.00 per hour $6.00 per hour 3 Data 4 Exhibit 9-8: Standard Cost Card 5 Inputs 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead 9 10 Actual results: 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 16 17 Enter a formula into each of the cells marked with a ? 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 22 Actual Quantity of Input, at Standard Price 23 Standard Quantity Allowed for the Actual Output, at Standard Price 24 Direct materials variances: 25 Materials price variance 26 Materials quantity variance Matoriole enandinn verinnen 2,000 units $7,140 Actual Quantity 6,500 pounds 1,050 hours Actual price $3.80 per pound $21.60 per hour 6.500 pounds x 6,500 pounds 6.000 pounds x $3.80 per pound = $24.700 $4.00 per pound = $26,000 $4.00 per pound = $24.000 $1,300 F $2,000 U czon11 D E F G $380 per pound 54 00 per pound $400 per pound 524 700 $25,000 $24,000 B C 0 Exhibit 9-11: Standard Cost Variance Analysis-Direct Materials 1 Actual Quantity of Input, at Actual Price 6,500 pounds 2 Actual Quantity of Input, at Standard Price 6500 pounds Standard Quantity Allowed for the Actual Output, at Standard Price 6,000 pounds 4 Direct materials variances 5 Materals price variance $1,300 F 26 Materals quantity variance $2.000 U 37 Materials spending vanance 5700 U 8 9 Exhibit 9-12: Standard Cast Variance Analysis - Direct Labor 80 Actual Hours of Input, at Actual Rate 1.050 hours 31 Actual Hours of Input, at Standard Rate 1,050 hours 82 Standard Hours Allowed for the Actual Output at Standard Rate 1.000 hours 83 Direct labor vanances 34 Laborrate variance $420 F 35 Labor efficiency variance $1,100 U 36 Labor spending vanance $6800 37 28 Exhibit 9-13: Standard Cost Variance Analysis-Variable Manufacturing Overhead 39 Actual Hours of Input at Actual Rate 1.050 hours 40 Actual Hours of input at Standard Rate 1050 hours 41 Standard Hours Allowed for the Actual Output at Standard Rate 1 000 hours 42 Variable overhead variances 43 Variable overhead rate variance 5340 $300 U 44 Variable overhead efficiency variance $1 140 U 45 Vanable overhead spending variance 521.60 per hour $22.00 per hour $22.00 per hour $22.680 523 100 322,000 56.30 per hour 56.00 per hour $6.00 per hour 57 140 56 300 $6.000 Chapter 9 Form