Data

Exhibit 10-1: Standard Cost Card

Inputs

Standard Quantity

Standard Price

Direct materials

3.0

pounds

$4.00

per pound

Direct labor

0.50

hours

$22.00

per hour

Variable manufacturing overhead

0.50

hours

$6.00

per hour

Actual results:

Actual output

1,900

units

Actual variable manufacturing overhead cost

$5,369

Actual Quantity

Actual price

Actual direct materials cost

5,985

pounds

$3.90

per pound

Actual direct labor cost

910

hours

$22.30

per hour

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

Requirement 2:

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).)