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Where there are ? marks, there needs to be a FORMULA. Thank you! 4 Exhibit 10-1: Standard Cost Card 5 Inputs 6 Direct materials 7
Where there are ? marks, there needs to be a FORMULA. Thank you!
4 Exhibit 10-1: Standard Cost Card 5 Inputs 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price $4.00 per pound $22.00 per hour $6.00 per hour 10 Actual results: 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 2,000 units $7,140 Actual Quantity 6,500 pounds 1,050 hours Actual price $3.80 per pound $21.60 per hour 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 10 19 ? pounds x ? pounds x ? pounds x ? per pound = ? per pound = ? per pound = 20 Exhibit 10-4: Standard Cost Variance Analysis - Direct Materials 21 Actual Quantity of Input, at Actual Price 22 Actual Quantity of Input, at Standard Price 23 Standard Quantity Allowed for the Actual Output, at Standard Price 24 Direct materials variances: 25 Materials price variance 26 Materials quantity variance 27 Materials spending variance 28 29 Exhibit 10-6: Standard Cost Variance Analysis - Direct Labor ? per hour = ? per hour = ? per hour = 30 Actual Hours of Input, at Actual Rate ? hours x 31 Actual Hours of Input, at Standard Rate ? hours x 32 Standard Hours Allowed for the Actual Output, at Standard Rate ? hours x 33 Direct labor variances: 34 Labor rate variance 35 Labor efficiency variance 36 Labor spending variance ? 37 38 Exhibit 10-8: Standard Cost Variance Analysis - Variable Manufacturing Overhead 39 Actual Hours of Input, at Actual Rate ? hours x 40 Actual Hours of Input, at Standard Rate ? hours x 41 Standard Hours Allowed for the Actual Output, at Standard Rate ? hours x 42 Variable overhead variances: 43 Variable overhead rate variance 44 Variable overhead efficiency variance 45 Variable overhead spending variance ? 46 ? per hour = ? per hour = ? per hour =
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