Use both the first and second sheet to calculate the variances. The first sheet provides the master budged (prepared at the beginning of the month) and the second sheet provides the actual costs(actual budget) at the end of the month. SHOW WORK!!!

Granny's Sweet N Sour Lemonade June 2020 as Master Budget Flexible Budget Actual Budget 2,700 3,100 3,100 Direct Materials (DM) Direct Labor (DL) Variable MOH Fixed MOH $9,450 $8,438 $3,206 $7,450 Direct Materials: Lemons Standard Cost Standard Quantity $7.00 per pound 0.50 pounds Direct Labor: Wages Standard Rate Standard Quantity $12.50 per labor hour 0.25 labor hours Variable MOH Standard Rate Standard Quantity $4.75 per labor hour 0.25 labor hours Amount ($) (Fav. / Unfav.) Calculate: Variances Direct Materials Price = AQ X (SP-AP) Quantity = (SQ-AQ)SP Spending Amount ($) (Fav. / Unfav.) Direct Labor Rate =AH (SR-AR) Quantity = (SQ-AQ) SP Spending Amount ($) (Fav. / Unfav.) Variable MOH Rate = AQ X (SP-AP) Quantity = (SQ-AQ) x SP Spending Master Budget Flexible Budget Actual Budget 2,700 3,100 3,100 Direct Materials (DM) Direct Labor (DL) Variable MOH Fixed MOH $11,280 $9,978 $3,976 $7,674 Direct Materials: Lemons $11,280 Total Cost 1,628 Total Pounds Direct Labor: Time Tickets $9,978 Total Cost 736 Total Labor Hrs. Variable MOH: Invoices $3,976 Total Cost 868 Total Labor Hrs. Amount ($) (Fav. / Unfav.) Calculate: Variances Direct Materials Price =AQ X (SP-AP) Quantity = (SQ-AQ) X SP Spending Amount ($) (Fav. / Unfav.) Direct Labor Rate =AH X (SR - AR) Quantity = (SQ-AQ) x SP Spending Amount ($) (Fav. / Unfav.) Variable MOH Rate =AQ (SP-AP) Quantity = (SQ-AQ) x SP Spending