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

Chapter 8: Applying Excel

2

3

Data

4

Exhibit 8-8: Standard Cost Card

5

Inputs

Standard Quantity

Standard Price

6

Direct materials

3.0

pounds

$4.00

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

Actual output

1,930

units

12

Actual variable manufacturing overhead cost

$5,133

13

Actual Quantity

Actual price

14

Actual direct materials cost

5,550

pounds

$3.8

pounds

15

Actual direct labor cost

870

hours

$22.4

per hour

16

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).)

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).)

b-1.

What is 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).)

b-2.

What is 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).)

c-1.

What is 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).)

c-2.	What is 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).)