Standard Cost

Actual Cost

Ingredient

Total Cost

Total Cost

Brownies mix (18 oz.)

$ 2.99

enter

Vegetable oil (24 oz.)

$ 3.49

enter

Eggs (half-dozen)

$ 1.49

enter

Total Cost/Batch

$ 7.97

Total Cost/Batch

$ -

Quantity

Note: You will have to make up an arbitrary amount for the quantity, since the only way there would be a quantity variance

would be if you spilled some of the ingredients. Make the number is somewhere between .90 and 1.20 (excluding 1.00)

Standard Quantity

1

Actual Quantity

enter

= % over or under standard quantity of materials

(for example 1.15 means you used 15% more materials

Direct Materials Variances

than the standard)

Note: Insert formulas in the highlighted cells with formula in them. Make sure you indicate whether or not the variances are favorable or unfavorable.

Actual Quantity of

Actual Quantity of Inputs,

Standard Quantity Allowed

Inputs, at Actual Price

at Standard Price

for Output, at Standard Price

formula

formula

formula

Price Variance

Quantity Variance

formula

formula

Fav/Unfav

Total Variance

Fav/Unfav

formula

Fav/Unfav

Rate
Note: The rate is quoted per minute of labor. Please make up an arbitrary labor rate per minute for your team and enter it in the highlighted cell.
Make the number somewhere between $.40 and $.75 (excluding $.50).
Standard Rate/Minute	$0.50		Actual Rate/Minute	enter
Efficiency
Note: Enter the actual number of minutes your team took to make all the cookies from the time you started putting the ingredients together
until the last cookies were taken out of the oven.
Standard Minutes Allowed	45	minutes	Actual Minutes	enter	minutes
Per Batch			Per Batch
Direct Labor Variances
Note: Insert formulas in the highlighted cells with formula in them. Make sure you indicate whether or not the variances are favorable or unfavorable.
	Actual Minutes of		Actual Minutes of Inputs,		Standard Minutes Allowed
	Inputs, at Actual Rate		at Standard Rate		for Output, at Standard Rate
	formula		formula		formula
		Rate Variance		Efficiency Variance
		formula		formula
		Fav/Unfav	Total Variance	Fav/Unfav
			formula
			Fav/Unfav