variance analysis

insteuctions : prepare the variance and identify whether they are favorable or un favorable .

Se Page Layout Formulas Data Review View Help Search Calibri 10 AA SE I- a. A- General B I U - Wrap Text Merge & Center E -% Cond Forma board $ -% Number Number Font Alignment G The below website will provide further assistance with variances http://accounting simplified.com/management/variance-analysis/material/price.html DATA FOR VARIANCE ANALYSIS: Actual Rate Grooming Labor Grooming Materials Standard Hours / Qty 150 $ 1,000 $ Standard Rate 12.00 2.00 Actual Hours / Qty 180 $ 1,200 $ 11.50 3.00 Favorable/ Unfavorable Variance Groomer Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate ta Groomer 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) Actual Quantity Contribution Margin Analysis Break-Even Analysis Instructions - Milestone 3 COS Schedule Income State