Chapter 10: Applying Excel: Exercise (Part 2 of 2)

Requirement 2:

Revise the data in your worksheet to reflect the results for the subsequent period as shown below:

	A	B	C	D	E	F
1	Chapter 10: Applying Excel
2
3	Data
4	Exhibit 10-1: Standard Cost Card
5	Inputs	Standard Quantity		Standard Price
6	Direct materials	3.0	pounds	$4.00
7	Direct labor	0.50	hours	$22.00	per hour
8	Variable manufacturing overhead	0.50	hours	$6.00	per hour
9
10	Actual results:
11	Actual output	1,930	units
12	Actual variable manufacturing overhead cost	$5,399
13		Actual Quantity		Actual price
14	Actual direct materials cost	5,645	pounds	$4.2	pounds
15	Actual direct labor cost	915	hours	$22.1	per hour

a-1.	What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

a-2.	What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

b-1.	What is the labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

b-2.	What is the labor rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your final answer to nearest whole dollar amount.)

c-1.	What is the variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

c-2.	What is the variable overhead rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)