Question: Milestone Three - Variance Analysis Data for Variance Analysis: Budgeted (Standard) Hours/Qty Budgeted (Standard) Rate Actual Hours/Qty Actual Rate Labor 8 $ 16.00 9 hrs

Milestone Three - Variance Analysis
Data for Variance Analysis:
Budgeted (Standard) Hours/Qty Budgeted (Standard) Rate Actual Hours/Qty Actual Rate
Labor 8 $ 16.00 9 hrs $ 16.50
Materials 8 $ 4.00 8 $ 10.00
Variances for Collar Sales
Variance Favorable/ Unfavorable
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) x Actual Quantity $ -

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