Requirement $2$:

Revise the data in your worksheet to reflect the results for the subsequent period as shown below:

ABCDE

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

$9$

$10$

$11$

$12$

$13$

$14$

$15$

Chapter $10$: Applying Excel

Data

Exhibit $10-1$: Standard Cost Card

Inputs Standard Quantity Standard Price

Direct materials $3\mathrm{.}0$ pounds $$4\mathrm{.}00$ per pound

Direct labor $0\mathrm{.}50$ hours $$22\mathrm{.}00$ per hour

Variable manufacturing overhead $0\mathrm{.}50$ hours $$6\mathrm{.}00$ per hour

Actual results:

Actual output $2,040$ units

Actual variable manufacturing overhead cost $$7,011\mathrm{.}00$

Actual Quantity Actual price

Actual direct materials cost $6,250$ pounds $$4\mathrm{.}40$ per pound

Actual direct labor cost $1,230$ hours $$22\mathrm{.}50$ per hour

a$-1.$ What is the materials quantity variance?

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

a$-2.$ What is the materials price variance?

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

b$-1.$ What is the labor efficiency variance?

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

b$-2.$ What is the labor rate variance?

Note: 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.

c$-1.$ What is the variable overhead efficiency variance?

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$

c$-2.$ What is the variable overhead rate variance?

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$