Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribedimage text in transcribed

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 3 Data 4 Exhibit 10-1: Standard Cost Card 5 Inputs Standard Quantity Standard Price 6 Direct materials 3.0 pounds $ 4.00 per pound 22.00 per hour Direct labor 7 $ 0.50 hours 8 Variable manufacturing overhead $ 0.50 hours 6.00 per hour 9 9 Actual results: 10 Actual output 11 12 Actual variable manufacturing overhead cost $ 2.060 units 8,160.00 Actual Quantity 13 5,985 pounds $ Actual price 4.40 per pound 22.40 per hour Actual direct materials cost Actual direct labor cost 14 1.275 hours $ 15 a-1. What is the materials quantity varlance? (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance)). The amount of the materials quantity variance 2-2 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 (.e., zero variancell 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 (.e.. zero variancell. The amount of the labor efficiency variance b-2 What is the sborrate variance (Indicate the effect of each varience by selecting " for favorable. "U"for unfavorable, and "None" for no effect Il.e., zero variance). Round your final answer to nearest whole dollar amount.) The amount of the laborate 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 lezero variance) The amount of the variable overhead cticiency 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

Principles Of Financial Accounting Chapters 1 To 18

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

12th Edition

9781118978740

More Books

Students also viewed these Accounting questions