Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 24, Problem 3R
To determine
Calculate the variance with formulas.
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Please include excel formula
Using the following returns, calculate the arithmetic average returns, the variances, and the standard deviations for X and Y.
Input area:
Year
X
Y
1
13%
27%
2
26%
36%
3
7%
11%
4
-5%
-29%
5
11%
16%
(Use cells A6 to C11 from the given information to complete this question. You must use the built-in Excel function to answers this question. Make sure to use the “sample” Excel formulas.)
Output area:
Asset X:
Average return
Variance
Standard deviation
Asset Y:
Average return
Variance
Standard deviation
Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn possible causes of these variances.
Please provide answers in excel with formulas.
Calculate the following variances and indicate whether each variance is favorable or unfavorable:
1.5. Volume Variance1.6. Total Variance
Chapter 24 Solutions
Excel Applications for Accounting Principles
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- Close the PRIMEVAR4 file and open PRIMEVAR3. Click the Chart sheet tab. On the screen is a graphical representation of the variances computed in requirement 3. Review the chart and answer the following questions: a. Which variances does each bar represent? A __________ B __________ C __________ D __________ b. Which of the variances shown would be of most concern to management for immediate attention? (Consider groups of variances and materiality also.) Explain. When the assignment is complete, close the file without saving it again. Worksheet. McGrade Industries also has the following information regarding overhead for October: actual overhead 375,000, standard variable overhead of 3 per direct labor hour, and standard fixed overhead of 5 per direct labor hour (based on 47,000 hours budgeted). Modify the PRIMEVAR3 worksheet to compute all appropriate overhead variances. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as PRIMEVART. Hint: Insert several new rows in the Data Section and in the Answer Section. Chart. Using the PRIMEVAR3 file, prepare a 3-D stacked bar chart to compare total standard cost per unit with actual cost per unit. Complete the Chart Tickler Data Table and use it as a basis for preparing the chart. You do not need to use cell references when completing the table. Enter all appropriate titles, legends, and formats. Enter your name somewhere on the chart. Save the file again as PRIMEVAR3. Print the chart.arrow_forwardPerformance Eval Variances: Refer to the pictures. Thank you! One picture has the info and the second picture has the template.arrow_forwardConsider two assets with expected return R1=0.22,R2=0.55and variance are s1=0.80, s2=0.88 and r12=0.55 respectively.A portifolio with weights W1=0.25 and W2= 0.65 is formed calculate the expected return and variance of the portifolioarrow_forward
- Acme Inc. has the following information available: A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances.arrow_forwardPerformance Eval Variances: Refer to the pictures. One has the information and the second has the template. Thank you!arrow_forwardFigure out what the total, price, and quantity variances are from the given information. Please help me. Thankyou.arrow_forward
- Consider the following two sets of data: A = [0.5, -0.6, 0.1, 10] & B = [6, 4, 4.5, 5.5]. Which data set will have the greatest variance?arrow_forwardCan you show how to calculate the variance step by step without using excelarrow_forwardhello, New to this. why is the variance added to the tablearrow_forward
- Use the following returns for X and Y. Returns Year x y 1 21.8% 26.4% 2 -16.8 -3.8 3 9.8 28.4 4 19.6 -14.6 5 4.8 32.4 a. Calculate the average returns for X and Y. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b. Calculate the variances for X and Y. (Do not round intermediate calculations and round your answers to 6 decimal places, e.g., 32.161616.) c. Calculate the standard deviations for X and Y. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)arrow_forwardUse the variance formulas to compute the following variances. Note: Indicate the effect of the first three variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Select "Positive" or "Negative" for the Fixed-overhead Volume variance.arrow_forward1.What is the labor rate variance ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 2. What is the variable overhead efficiency variance ? ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number) 3. what is the variable overhead rate variance?arrow_forward
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