This is an excel file where you must type in formulas and cell references and no

Question

This is an excel file where you must type in formulas and cell references and not hard numbers. Please give the formulas you used as an answer.

1 Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the month: 3 Direct materials: 4 Standard 5 Actual 6 Direct labor: 7 Standard 8 Actual 9 Variable overhead: 10 Standard 11 Actual 12 13 Total cost per unit 14 15 Excess of actual cost over standard cost per unit 16 17 Actual production for the month 18 Variable overhead is assigned to products based on direct labor hours. There 19 was no beginning or ending inventory of materials for the month. 20 21 Using formulas, compute the following. Input all numbers as positive amounts $6.60 2.4 yards @ 3 yards @ $2.75 per yard $2.70 per yard $8.10 0.6 hours@ 0.5 hours @ $18.00 per hour $22.00 per hour 10.80 11.00 0.6 hours @ 0.5 hours @ $7.00 per hour $7.10 per hour 4.20 3.55 $22.65 $1.05 $21.60 13,500 units

Explanation / Answer

Material Quantitiy variance =Actual quantity at standard price -standard quantity allowed for actual output at standar dprice

       =111375-89100

       =22275 U

Material price variance = Actual quantity at actual price- Actual quantity at standard price

        = 109350 -111375

     = 2025 F

Labor efficiency variance =Actual hours at standard price -standard hpurs allowed for actual output at standar dprice

                   = 121500-145800

                    24300 F

Labor rate variance= Actual hours at actual price- Actual hours at standard price

           = 148500-121500

           =27000 U

Variable overhead efficiency variance= 47250-56700

                    =9450 F

Variable overhead rate variance= 47925-47250

                        =675 U

mATERIAL Quantity 22275 U Rate 2025F 20250 U 20250/13500 =1.5 U Labor efficiency 24300 F Rate 27000 U 2700 U 2700/13500=.20 U variable overhead efficiency 9450 F Rate 675 U 8775 F 8775/13500=.65 F Excess of actual cost over standard cost per unit 14175 1.05 U

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