variance analysis

Managerial accounting

need help solving this, please include calculations.

Data for Variance Analysis: 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) x Actual Quantity ACC 202 Milestone Three: Actual Costs and Revenue Data Appendix At the end of the first month of opening your business, you calculate the actual operating costs of the business and the income you earned. You atso notice and document the difference in what you budgeted for certain materials and labor against the actual amounts you spent on the same. For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month: - Materials purchased: $20,000 Consumed 80% of the purchased materials - Direct labor: $8,493 - Overhead costs: $3,765 Note: Assume that the beginning materials and ending work in process are zero for the month. Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing leveloptions you chose in Milestone Two. Also, assume that after. accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 3320=660 per month. 332020 dayd 60020 The other costs incurred by the business indude: - General and administrative salaries - Receptionist: $1,950 - Office supplies: $200 - Other business equipment: $150 Data for Variance Analysis: 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) x Actual Quantity ACC 202 Milestone Three: Actual Costs and Revenue Data Appendix At the end of the first month of opening your business, you calculate the actual operating costs of the business and the income you earned. You atso notice and document the difference in what you budgeted for certain materials and labor against the actual amounts you spent on the same. For your statement of cost of goods sold, use the following data regarding the actual costs incurred by the business over the past month: - Materials purchased: $20,000 Consumed 80% of the purchased materials - Direct labor: $8,493 - Overhead costs: $3,765 Note: Assume that the beginning materials and ending work in process are zero for the month. Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing leveloptions you chose in Milestone Two. Also, assume that after. accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 3320=660 per month. 332020 dayd 60020 The other costs incurred by the business indude: - General and administrative salaries - Receptionist: $1,950 - Office supplies: $200 - Other business equipment: $150