Milestone Three $-$ Variance Analysis

Data for Variance Analysis:

$\backslash$table$[[,\backslash$table$[[$Budgeted$],[($Standard$)],[$Hours$/$Qty$]],\backslash$table$[[$Budgeted$],[($Standard$)],[$Rate$]],\backslash$table$[[$Actual$],[$Hours$/$Qty$]],\backslash$table$[[$Actual$],[$Rate$]]],[$Labor$,8,$$$,16\mathrm{.}00,9,$$$,16\mathrm{.}50],[$Materials$,33,$$$,9\mathrm{.}10,93,$$$,10\mathrm{.}00]]$

Variances for Collar Sales

Direct Labor Time Variance

$($Actual Hours $-$ Standard Hours$)$ x Standard Rate

Direct Labor Rate Variance

$($Actual Rate $-$ Standard Rate$)$ x Actual Hours

Direct Materials Quantity$/$Efficiency Variance

$($Actual Quantity $-$ Standard Quantity$)$ x Standard Price

Direct Materials Price Variance

$($Actual Price $-$ Standard Price$)\backslash$times Actual Quantity