A B C D E F G H J K L M N 2 Masik, Incorporated...

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A B C D E F G H J K L M N 2 Masik, Incorporated is analyzing its most current direct materials results against the budget. 3 Here is the standard cost information: 5 Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit Direct Materials $9.50 2 $19.00 Actual cost information is below: 10 11 Units Produced 12 Materials Purchased 13 Material Used 14 Cost of Direct Materials 15 4,000 8,500 7,800 $85,000.00 16 Required: 17 Fill in the cells below with required data for variance calculations and favorability. 18 Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances. 19 20 21 Actual x Actual (used) 22 AQ AP 23 7,800 24 25 26 27 28 29 Actual x Actual (purchased) 30 31 AQ 8,500 AP $10.00 32 33 34 35 Direct Materials Variances Actual x Standard (used) AQ SP 7,800 Materials Price Variance (used) $3,900 Materials Price Variance (purchased) $4,250 Actual x Standard (purchased) AQ SP 8,500 Materials Quantity Variance Standard x Standard SQ SP 8,000 0 P 0 R S T A B C D E F G H J K L M N 2 Masik, Incorporated is analyzing its most current direct materials results against the budget. 3 Here is the standard cost information: 5 Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit Direct Materials $9.50 2 $19.00 Actual cost information is below: 10 11 Units Produced 12 Materials Purchased 13 Material Used 14 Cost of Direct Materials 15 4,000 8,500 7,800 $85,000.00 16 Required: 17 Fill in the cells below with required data for variance calculations and favorability. 18 Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances. 19 20 21 Actual x Actual (used) 22 AQ AP 23 7,800 24 25 26 27 28 29 Actual x Actual (purchased) 30 31 AQ 8,500 AP $10.00 32 33 34 35 Direct Materials Variances Actual x Standard (used) AQ SP 7,800 Materials Price Variance (used) $3,900 Materials Price Variance (purchased) $4,250 Actual x Standard (purchased) AQ SP 8,500 Materials Quantity Variance Standard x Standard SQ SP 8,000 0 P 0 R S T