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Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Inputs Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds > ? pounds x ? pounds x ? ? ? ? hours * ? hours x ? hours x ? ? ? ? hours * ? hours x ? hours x ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?

Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Inputs Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds > ? pounds x ? pounds x ? ? ? ? hours * ? hours x ? hours x ? ? ? ? hours * ? hours x ? hours x ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?

Financial & Managerial Accounting
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter22: Performance Evaluation Using Variances From Standard Costs
Section: Chapter Questions
Problem 8DQ: A. Describe the two variances between the actual costs and the standard costs for factory overhead....
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Requirement 1 Requirement 2 Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Inputs Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds x ? pounds x ? pounds x ? ? ? ? hours x ? hours x ? hours x ? ? ? ? hours x ? hours x ? hours * ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?
Transcribed Image Text:Requirement 1 Requirement 2 Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Inputs Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds x ? pounds x ? pounds x ? ? ? ? hours x ? hours x ? hours x ? ? ? ? hours x ? hours x ? hours * ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?
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