BE$12\mathrm{.}4-$ Using Excel to Calculate Direct Materials Variances

PROBLEM

Sprague Company's uses a standard cost system and has provided the

following information for its direct materials during July.

Standard materials cost per unit of output

Standard materials price per $kg$

Cost of materials purchased

Standard materials quantity

Purchased and used during July

Units of finished products produced

Enter Answer

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use cell

references to the Problem area with mathematical formulas in the input cells.

the last input field, input an IF function with cell references to your work area.

Calculate the total, price, and quantity materials variances. Designate if the

variance is favourable or unfavourable using Excel's IF function.

Material Price Variance