Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Inputs Direct materials Direct labor Variable manufacturing over head 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 Actual results: Actual output Actual variable manufacturing overhead cost 2,000 units $7,140 Actual Quantity 6,500 pounds 1,050 hours Actual direct materials cost Actual direct labor cost Actual price $3.80 per pound $21.60 per hour Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 ? pounds ? pounds ? pounds ? per pound = ? per pound = ? per pound = ? ? ? Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Standard Quantity Allowed for the Actual Output, at Standard Price Actual Quantity of Input, at Standard Price Actual Quantity of Input, at Actual Price Direct materials variances: Materials quantity variance Materials price variance Materials spending variance ? ? ? ? hours x ? hours x ? hours x ? per hour = ? per hour = ? per hour = ? ? ? Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Direct labor variances: Labor efficiency variance Labor rate variance Labor spending variance ? ? ? ? hours ? hours ? hours x ? per hour = ? per hour = ? per hour = ? ? ? Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Standard Hours Allowed for the Actual Output, at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Variable overhead variances: Variable overhead efficiency variance Variable overhead rate variance Variable overhead spending variance