21 Standard Quantity Allowed for the Actual Output, at Standard Price 22 Actual Quantity of Input, at Standard Price 23 Actual Quantity of Input, at Actual Price 24 Direct materials variances: 25 Materials quantity variance 26 Materials price variance 27 Materials spending variance 28 29 Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor 30 Standard Hours Allowed for the Actual Output, at Standard Rate 31 Actual Hours of Input, at Standard Rate 32 Actual Hours of Input, at Actual Rate 33 Direct labor variances: 34 Labor efficiency variance 35 Labor rate variance 43 Variable overhead efficiency variance 44 Variable overhead rate variance 45 Variable overhead spending variance 46 47 ? pounds 5,855 pounds 5,855 pounds 36 Labor spending variance 37 38 Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead 39 Standard Hours Allowed for the Actual Output, at Standard Rate 40 Actual Hours of Input, at Standard Rate 41 Actual Hours of Input, at Actual Rate 42 Variable overhead variances: 48 49 F ? U ? F ? hours * 1,125 hours 1,125 hours ? F ? U ? F ? hours x 1,125 hours * 1,125 hours ? F ? U ? $4.00 per pound $4.00 per pound $4.20 per pound $22.00 per hour = $22.00 per hour. $22.10 per hour $6.00 per hour $6.00 per hour ? per hour ? $23,420 $24,591 ? $24,750 $24,863 ? $6,750 ?

Name: Please complete P23 ÷1 Chapter 10: Applying Excel3 Data4 Exhibit 10-1:
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Description: Please complete P23 ÷1 Chapter 10: Applying Excel3 Data4 Exhibit 10-1: Standard Cost Card15 Actual direct labor cost166 Direct materials7 Direct labor8 Variable manufacturing overhead910 Actual results:11 Actual output12 Actual variable manufacturing

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 23E: (Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate...

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P23 ÷
1 Chapter 10: Applying Excel
3 Data
4 Exhibit 10-1: Standard Cost Card
15 Actual direct labor cost
16
6 Direct materials
7 Direct labor
8 Variable manufacturing overhead
9
10 Actual results:
11 Actual output
12 Actual variable manufacturing overhead cost
13
14 Actual direct materials cost
17 Enter a formula into each of the cells marked with a ? below
18 Main Example: Chapter 10
19
25 Materials quantity variance
26
Materials price variance
27
Materials spending variance
28
fx
20 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials
21 Standard Quantity Allowed for the Actual Output, at Standard Price
22 Actual Quantity of Input, at Standard Price
23 Actual Quantity of Input, at Actual Price
24 Direct materials variances:
35 Labor rate variance
36
37
29 Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor
30 Standard Hours Allowed for the Actual Output, at Standard Rate
31 Actual Hours of Input, at Standard Rate
32 Actual Hours of Input, at Actual Rate
33 Direct labor variances:
34
46
47
A
Labor efficiency variance
48
49
Inputs
50
Labor spending variance
8
Variable overhead spending variance
Standard Quantity
3.0 pounds
0.50 hours
0.50 hours
38 Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead
39 Standard Hours Allowed for the Actual Output, at Standard Rate
40 Actual Hours of Input, at Standard Rate
41 Actual Hours of Input, at Actual Rate
42 Variable overhead variances:
43 Variable overhead efficiency variance
44 Variable overhead rate variance
45
2,030 units
$6,975
Actual Quantity
5,855 pounds
1,125 hours
с
? pounds x
5,855 pounds x
5,855 pounds x
F
? U
? F
? hours *
1,125 hours *
1,125 hours x
? F
? U
? F
? hours *
1,125 hours
1,125 hours
? F
? U
?
D
E
Standard Price
$4.00 per pound
$22.00 per hour
$6.00 per hour
Actual price
$4.20 per pound
$22.10 per hour
$4.00 per pound=
$4.00 per pound
$4.20 per pound
$22.00 per hour =
$22.00 per hour
$22.10 per hour =
$6.00 per hour =
$6.00 per hour =
? per hour =
F
?
$23,420
$24,591
?
$24,750
$24,863
?
$6,750
?
G
H
I
J
K
For

Chapter 10: Applying Excel: Exercise (Part 2 of 2) (Algo)
Requirement 2:
Revise the data in your worksheet to reflect the results for the subsequent period as shown below:
1
2
3
4
5
10
6
Required information
Chapter 10: Applying Excel (Algo) [LO10-1, LO10-2, LO10-3]
The Chapter 10 worksheet appearing in the excel recreates the example in the text.
9
A
Chapter 10: Applying Excel
12
13
14
15
Data
Exhibit 10-1: Standard Cost Card
Inputs
7 Direct labor
8
Direct materials
Variable manufacturing overhead
10 Actual results:
11
Actual output
Actual variable manufacturing overhead cost
Actual direct materials cost
Actual direct labor cost
$
B
Standard Quantity
3.0 pounds
0.50 hours
0.50 hours
с
2,030 units
6,975.00
Actual Quantity
5,855 pounds
1,125 hours
$
$
$
$
$
D
E
Standard Price
4.00 per pound
22.00 per hour
6.00 per hour
Actual price
4.20 per pound
22.10 per hour

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please solve for these questions:

b-1. What is the labor efficiency variance?

b-2. What is the labor rate variance?

c-1. What is the variable overhead efficiency variance?

c-2. What is the variable overhead rate variance?

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