Straightforward variance analysis Arrow Enterprises uses a standard costing system. The standard cost sheet for product No. 549 follows:

Direct materials: 4 units @ $6.50	$ 26.00
Direct labor: 8 hours @ $8.50	68.00
Variable factory overhead: 8 hours @ $7.00	56.00
Fixed factory overhead: 8 hours @ $2.50	20.00
Total standard cost per unit	$170.00

The following information pertains to activity for December:

1) Direct materials acquired during the month amounted to 26,350 units at $6.40 per unit. All materials were consumed in operations.

2) Arrow incurred an average wage rate of $8.75 for 51,400 hours of activity.

3) Total overhead incurred amounted to $508,400. Budgeted fixed overhead totals $1.8 million and is spread evenly throughout the year.

4) Actual production amounted to 6,700 completed units.

Instructions

Compute Arrow's direct material variances.

Compute Arrow's direct labor variances.

Compute Arrow's variances for factory overhead.

PLEASE GIVE ANSWERS IN THE FOLLOWING EXCEL FORMAT I HAVE TO PLACE THE ANSWERS IN A PREFORMATTED EXCEL SPREADSHEET.

HERE IS A LINK ON HOW TO DO THE PROBLEM http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+7+Problem+5/0_dszrqdrc

Copy of ACC206 Guidance. Report Week Four Excel File Home Insert page Layout Formulas Data Review view Q lell me what you want to do D253 Compute Ar aterial 262 Act Std cost Std cost 263 Act aty A:taty Std Qty Quantity 260 b. Compute WTow's labor varances. 270 Act ratc Std rate Labor Ffficiency Variance. 273 Labor R variarave 274 Total Labor Variance 275 c. Compute Arrow's varlance for factory overhead. 216 variable owerhead efficiency variance The Amount 277 Actual Quantity The Amount the Aktu Actual ntity 279 Pri (AqXAp of input should ved for 20C Cost ticn. variable: XSp) Standard Prices Aut pr variabl rhead officlency ZHE d. Hixed Dwerhead volume variance rixed Rudeeted 2R7 288 289 bed Overhcad vol Varl 24 e Overhead spending variance Actual rixed o Radeeted Fixed overhead 294 Overhead spending variancc 298 299 300 G Student Guidance Report a ype here to search OS XD rhonda paul 5 AM 5/15/2017 Share 72%