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Using the data provided: a - 1 . What is the materials quantity variance? Note: Indicate the effect of each variance by selecting F
Using the data provided:
a What is the materials quantity variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance
a What is the materials price variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance
b What is the labor efficiency variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance
b What is the labor rate variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Round your final answer to nearest whole dollar amount.
c What is the variable overhead efficiency variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance
c What is the variable overhead rate variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero varianceRequirement :
Revise the data in your worksheet to reflect the results for the subsequent period as shown below:
tableABCDEChapter : Applying Excel,,,,,Data,,,,,Exhibit : Standard Cost Card,,,,,Inputs,Standard Quantity,Standard PriceDirect materials,pounds,$per poundDirect labor,hours,$per hourVariable manufacturing overhead,hours,$per hourActual results:,,,,,Actual output,units,,,Actual variable manufacturing overhead cost,Actual Quantity,Actual priceActual direct materials cost,pounds,$per poundActual direct labor cost,hours,$per hour
a What is the materials quantity variance?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect i variance
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