Variances

Milestone Three$-$Variance $$nalysis

Date for Variance Analysis:

$\backslash$table$[[$Labor$,$Budketed,Budgeted,Actual,Actual$],[,,,,],[160,16\mathrm{.}00,180,]]$

Variances for Collar Sales

Direct Labor Time Variance

$($Actual Hour's $-$ Standard Hours$)$ 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

$($Actuall Price $=$ Standard Price$)$ Actuall Quantity

$\backslash$table$[[,$Variance,Favorable$/],[$$$,320\mathrm{.}00,$Unfavorable$],[$$$,90\mathrm{.}00,$Unfavorable$],[$$$,546\mathrm{.}00,$Unfavorable$],[,,],[,64800,$Unfavorable$]]$ Illustrate the variables observed between the actual and planned values for the direct labor time and direct material price fir collars. What changed?