Standard Costing Variance Analysis Instructions for completing Battle Company Variance analysis spreadsheet. Due June 12, 2020. 1. Complete the spreadsheet found in the Variance Analysis Dropbox by inserting formulas or cell references in all the cells that contain question marks. Battle Company produces leather belts and initially the actual number of belts produced is 40 (cell B20). After you input your formulas and calculate your variances, the direct material quantity variance should be $72 - unfavorable and the variable overhead efficiency variance should be $33 - unfavorable. A variance cell that is highlighted in green will indicate a favorable variance and a variance cell that is highlighted in red will indicate an unfavorable variance. 2. Check the accuracy of the formulas in your spreadsheet by decreasing the actual number of belts produced (cell B20) from 40 to 36. Your spreadsheet should automatically recalculate the variances. The new direct material quantity variance should be $108 - unfavorable and the new variable overhead efficiency variance should be $132 - unfavorable. If your spreadsheet doesn't calculate the new variances correctly, fix the errors in your formulas before you submit it. I will check your spreadsheet by changing the number of belts produced and checking to see if your spreadsheet recalculates the variances correctly. Upload either version of your completed spreadsheet to the Variance Analysis Dropbox. 0 0 H K M N 1 Variance Analysis Butle Company Inserta formula into each cellared with a ? and the variance will automatically be called Favorable arances will be indicated by a green highlighted cell and und vorable variances will be indicated by a red highlighted cell 4 Battle Co, produces a men's leather belt which incurs the following variable production costs Leather Belt Stdtyper belt Std Pricate Direct Material leather 05 yards $12.00 per yard Direct Labor 15 hours 200 per hour 10 Variable based on direct labor hours) 15 hours $16.50 per hour 11 12 Standard cost perUnit: Standard Cont 15 Director 19 Variable 19 Battle incurred the following are production costs in August 30 Units produced Malo 38 Actual Cost 22 23 Direct Material 24 Direct labor 25 Variable on Total Actual cost Actual Priate yards $12 pervard hours $200 per hour $17.00 per hour Variance ? Variance ? Variance Variance 27 28 Variance Calculations 29 30 rect Material Variances 31 32 Total 33 Standard- Actual = 34 ? 35 36 Price 37 Difference in price x Actual Oty = 38 39 40 Quantity 41 Difference in quantity x Standard Price - 42 43 44 Direct Labor Variances 45 46 Total 47 Standard- Actual = 48 49 50 Rate 51 Difference in price x Actual Oly = 52 53 54 Efficiency 55 Difference in quantity x Standard Price = 56 57 58 ariable CH Variances 59 60 Total 61 Standard- Actual = 62 63 64 Rate 65 Difference in pricex Actual Oly 66 ? 67 68 Efficiency 69 Difference in quantity x Standard Price = 70 71 Variance Variance Variance Variance N Variance