PLEASE ENTER FORMULAS USED FOR EACH \"?\" Example: \"D12-E06\" PLEASE ENTER FORM
ID: 2524949 • Letter: P
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PLEASE ENTER FORMULAS USED FOR EACH "?" Example: "D12-E06"
PLEASE ENTER FORMULAS USED FOR EACH "?" Example: "B12*E06"
1 Chapter 10: Applying Excel 3 Data 4 Exhibit 10-1: Standard Cost Card Inputs Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Standard Quantity 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead 3.0 pounds 0.50 hours 0.50 hours 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? beloww 18 Main Example: Chapter 10 20 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials 21 Standard Quantity Allowed for the Actual Output, at Standard Price 22 Actual Quantity of Input, at Standard Price 23 Actual Quantity of Input, at Actual Price 24 Direct materials variances 25 Materials quantity variance 26 Materials price variance 27 Materials spending variance 28 29 Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor 30 Standard Hours Allowed for the Actual Output, at Standard Rate 31 Actual Hours of Input, at Standard Rate 32 Actual Hours of Input, at Actual Rate 33 |Direct labor variances 34 Labor efficiency variance 35 Labor rate variance 36 Labor spending variance 37 38 Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead 39 Standard Hours Allowed for the Actual Output, at Standard Rate 40 Actual Hours of Input, at Standard Rate 41 Actual Hours of Input, at Actual Rate 42 Variable overhead variances 43 Variable overhead efficiency variance 44 Variable overhead rate variance 45 Variable overhead spending variance 46 ? pounds x ? pounds x ? pounds x ? per pound ? per pound ? per pound ? hours x ? hours x ? hours x ? per hour- ? per hour- ? per hour- ? hours * ? hours x ? hours x ? per hour- ? per hour- ? per hour-Explanation / Answer
1) Standard Cost Variance Analysis-Direct Materials
Standard Qty allowed for actual output = 2,000 units*3 pounds = 6,000 pounds
Std Qty allowed for actual output, at std price = Std Qty allowed*Std price
= 6,000 pounds*$4 per pound = $24,000
Actual Qty of input, at std price = Actual Qty*Std Price
= 6,500 pounds*$4 per pound = $26,000
Actual Qty of input, at actual price = Actual Qty*Actual Price
= 6,500 pounds*$3.80 per pound = $24,700
Materials Qty Variance = Std Qty allowed for actual output, at std price-Actual Qty of input, at std price
= $24,000 - $26,000 = ($2,000) Unfavorable
Materials Price Variance = Actual Qty of input, at std price-Actual Qty of input, at actual price
= $26,000 - $24,700 = $1,300 Favorable
Materials Spending Variance = Std Qty allowed for actual output, at std price-Actual Qty of input, at actual price
= $24,000 - $24,700 = ($700) Unfavorable
2) Standard Cost Variance Analysis-Direct Labor
Standard hrs allowed for actual output = 2,000 units*0.50 hrs = 1,000 hrs
Std hrs allowed for actual output, at std rate = Std hrs allowed*Std rate
= 1,000 hrs*$22 per hr = $22,000
Actual hrs of input, at std rate = Actual hrs*Std rate
= 1,050 hrs*$22 per hr = $23,100
Actual hrs of input, at actual rate = Actual Hrs*Actual Rate
= 1,050 hrs*$21.60 per hr= $22,680
Labor Efficiency Variance = Std Hrs allowed for actual output, at std rate-Actual hrs of input, at std rate
= $22,000 - $23,100 = ($1,100) Unfavorable
Labor Rate Variance = Actual hrs of input, at std rate-Actual hrs of input, at actual rate
= $23,100 - $22,680 = $420 Favorable
Labor Spending Variance = Std hrs allowed for actual output, at std rate-Actual hrs of input, at actual rate
= $22,000 - $22,680 = ($680) Unfavorable
3) Standard Cost Variance Analysis-Variable Overhead
Std hrs allowed for actual output, at std rate = Std hrs allowed*Std rate
= 1,000 hrs*$6 per hr = $6,000
Actual hrs of input, at std rate = Actual hrs*Std rate
= 1,050 hrs*$6 per hr = $6,300
Actual hrs of input, at actual rate = Actual Hrs*Actual Rate
= 1,050 hrs*$6.80 per hr= $7,140
Variable Overhead Efficiency Variance = Std Hrs allowed for actual output, at std rate-Actual hrs of input, at std rate
= $6,000 - $6,300 = ($300) Unfavorable
Variable Overhead Rate Variance = Actual hrs of input, at std rate-Actual hrs of input, at actual rate
= $6,300 - $7,140 = ($840) Unfavorable
Variable OH Spending Variance = Std hrs allowed for actual output, at std rate-Actual hrs of input, at actual rate
= $6,000-$7,140 = ($1,140) Unfavorable
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