Solve the Excel documen

darrdarr and then assume the following to prepare Direct Material

$($DM$)$ Spending variance, Direct Labor $($DL$)$ Spending variance, and Variable OverHead $($OH$)$ Spending variance to

answer the questions:

Standard DM price per pound $($Lbs$)$: $$20$

Standard DM needed per unit: $2$ Lbs

Standard DL rate: $$15$ per hour

Standard DL hours per unit: $2$ hours of Direct Labor per unit

$*$The actual DM used for $11000$ units of production is $24200$ lbs which means:

$24200$ lbs $/11000$ actual units produced $=2\mathrm{.}2$ lbs actual quantity of DM used per unit

Actual DL hours: $20000$ hours

Variable Overhead Rate applied based on per DL hour: $$10$

$*$Note: I am helping you here!

$AQ(AP-SP)=DM$ Price Variance

$(AQAP)-($AQ $SP$ Favorable $($less spending for DM$)$

$$442,000-(24200$$$20)=$ DM Price Variance

$442,000-484,000=$ DM Price Variance

$$42,000$ Favorable DM Price Variance