Revise the data in your worksheet to reflect the results for the subsequent peri
ID: 2537382 • Letter: R
Question
Revise the data in your worksheet to reflect the results for the subsequent period as shown below:
A
B
C
D
E
F
What is the materials quantity variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
What is the materials price variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
What is labor efficiency variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
What is labor rate variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
What is variable overhead efficiency variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
What is variable overhead rate variance? Also, (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
The amount of the variable overhead rate variance:
* i especially need part C
Revise the data in your worksheet to reflect the results for the subsequent period as shown below:
A
B
C
D
E
F
1 Chapter 8: Applying Excel 2 3 Data 4 Exhibit 8-8: Standard Cost Card 5 Inputs Standard Quantity Standard Price 6 Direct materials 3.0 pounds $4.00 7 Direct labor 0.50 hours $22.00 per hour 8 Variable manufacturing overhead 0.50 hours $6.00 per hour 9 10 Actual results: 11 Actual output 1,910 units 12 Actual variable manufacturing overhead cost $4,400 13 Actual Quantity Actual price 14 Actual direct materials cost 5,580 pounds $3.8 pounds 15 Actual direct labor cost 800 hours $21.7 per hour 16Explanation / Answer
Material price variance = (Standard price-actual price)actual quantity
= (4-3.80)5580
Material price variance = 1116 F
Material quantity variance = (Standard quantity-actual quantity)standard price
= (1910*3-5580)4
Material qunatity variance = 600 F
Labour rate variance = (Standard rate-actual rate) actual hours
= (22-21.70)800
Labour rate variance = 240 F
Labour efficiency variance = (Standard hour-actual hour)standard price
= (1910*.50-800)22
Labour efficiency variance = 3410 F
Variable overhead rate variance = (Standard rate-actual rate) actual hours
= (6*800-4400)
Variable overhead rate variance = 400 F
Variable overhead efficiency variance = (Standard hour-actual hour)standard price
= (1910*.50-800)6
Variable overhead efficiency variance = 930 F
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.