Required information

LAB $2-1($LO $2-7)$ Alternate: Diagnostic Analytics: Computing Variances and Using Conditional Formatting

$[$The following information applies to the questions displayed below.$]$

Lab Insight: Apply the same general steps as Lab $2-1$ to Alt Lab $2-1,$ but now calculate the direct labor variance. The

template exists in Lab $2-1$ Data.xlsx to assist you in your analysis. Open Excel file Lab $2-1$ Data.xlsx$.$

Karina will make $4,000$ jackets with standard quantity of leather per jacket of $120\mathrm{.}03$ square inches of material

@ $$0\mathrm{.}25/$square inch. The actual quantity of leather per jagket for those $4,000$ jackets produced was $122\mathrm{.}53$ square inches

of material @$0\mathrm{.}24/$square inch. The standard labor to produce each jacket is one hour for each jacket with a cost of

$$16\mathrm{.}50/$hour$.$ The actual labor used to produce each jacket was $1\mathrm{.}06$ hours at $$\frac{16}{?}$ hour.

Required:

Using performance standards for the labor utilized in the manufacture of jackets, calculate the direct labor variances,

including rate and efficiency variances.

Use conditional formatting to identify favorable and unfavorable variances.

Data: Lab $2-1$ Data.x$|$sx

Perform the Analysis: Refer to Lab $2-1$ in the text for lab instruction steps.

Lab $2-1$ Alternate: Upload Your Files

Upload the Word or PDF document containing your Lab screenshots using the button below.

Note: Please submit your file attachment response in one of the approved file formats; Word file $(.$doc or $.$docx$),$ Excel file $(.$xls or $.$xlsx$),$ or PDF$.$ To submit photo or image files please paste them into Word or

PDF$.$ Consult with your instructor as needed on their preferred file attachment format.

Take a screenshot of your variance analysis, paste it into a Word document named "Alt Lab $2-1$ Excel SS$.$doc" and label the screenshot Submission $1.$