s with Excel Saved Help Save & Exit Submit Required information The Chapter 9 Form worksheet is to be used to create your own worksheet version of the main example in the text. Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell D21 enter the formula "=D14" Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell 825 would be ABS(F21-F22) Cells c25 through C27, C34 through C36, and C43 through C45 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cells-If you do, you will overwrite these formulas. After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. Check your worksheet by changing the direct materials standard quantity in cell 86 to 29 pounds, the direct labor standard quantity in cell B7 to 0.6 hours, and the variable manufacturing overhead in cell B8 to 0.6 hours. The materials spending variance should now be $1.500 U, the labor spending variance should now be $3,720 F. and the variable overhead spending variance should now be $60 F. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2 This question will be sent to your instructor for grading Prev 1 2 of 2 !!! Next > Chapter 9 Al Chapter 8 Appl. Chapter 8 Apr Show All 9 4 Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $3.80 per pound $21.60 per hour ? ? per pound ? per pound ? per pound 2 3 Data Exhibit 9-8: Standard Cost Card Inputs Standard Quantity 6 Direct materials 3.0 pounds 7 Direct labor 0.50 hours 8 Variable manufacturing overhead 0.50 hours 9 10 Actual results: 11 Actual output 2,000 units 12 Actual variable manufacturing overhead cost $7,140 13 Actual Quantity 14 Actual direct materials cost 6,500 pounds 15 Actual direct labor cost 1,050 hours 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 ? pounds 22 Actual Quantity of Input, at Standard Price 2 pounds 23 Standard Quantity Allowed for the Actual Output, at Standard Price ? pounds 24 Direct materials variances 25 Materials price variance ? 26 Materials quantity variance 2 27 Materials spending variance ? 28 29 Exhibit 9-12: Standard Cost Variance Analysis - Direct Labor 30 Actual Hours of Input, at Actual Rate 7 hours 31 Actual Hours of Input, at Standard Rate ? hours 32 Standard Hours Allowed for the Actual Output, at Standard Rate 7 hours 33 Direct labor variances: ? 34 Labor rate variance 35 Labor efficiency variance 2 36 Labor spending variance 37 38 Exhibit 9-13: Standard Cost Variance Analysis-Variable Manufacturing Overhead ? hours 39 Actual Hours of Input, at Actual Rate 2 hours 40 Actual Hours of Input, at Standard Rato ? hours 41 Standard Hours Allowed for the Actual Output, at Standard Rato 42 Variable overhead variances ? 43 Variable overhead rate variance ? 44 Variable overhead officiency variance 7 45 Variable overhead spending variance 46 47 48 ? per hour ? per hour ? per hour 7 2 2 7 ? ? per hour 2 per hour ? per hour