Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A B D E 1 Chapter

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A B D E 1 Chapter 10: Applying Excel 2 2 3 Data 4 Exhibit 10-1: Standard Cost Card 5 Inputs Standard Price Standard Quantity 3.0 pounds 6 Direct materials A 4.00 per pound 7 Direct labor 0.50 hours 22.00 per hour $ $ 8 Variable manufacturing overhead 0.50 hours 6.00 per hour 9 10 Actual results: 11 1,850 units Actual output Actual variable manufacturing overhead cost 12 $ 13 7,442.50 Actual Quantity 5,400 pounds Actual price 3.70 per pound 14 Actual direct materials cost $ $ . 15 Actual direct labor cost 1,145 hours $ 22.10 per hour 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

Auditing Fundamentals

Authors: Marlene Davies, John Aston

1st Edition

0273711733, 978-0273711735

More Books

Students also viewed these Accounting questions