a-1. What is the materials quantity variance? Note: 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 materials quantity variance a-2. What is the materials price variance? Note: 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 materials price variance B34 1 Chapter 10: Applying Excel 3 Data 4 Exhibit 10-1: Standard Cost Card 6 Direct materials 7 Direct labor fx ? Variable manufacturing overhead 8 9 10 Actual results: 11 Actual output 12 Actual variable manufacturing overhead cost 13 14 Actual direct materials cost 15 Actual direct labor cost 16 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 10 19 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: 25 Materials quantity variance 26 27 28 29 Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor 30 Standard Hours Allowed for the Actual Output, at Standard Rate Materials price variance Materials spending variance 35 Labor rate variance 46 47 48 49 A Inputs 31 Actual Hours of Input, at Standard Rate 32 Actual Hours of Input, at Actual Rate 33 Direct labor variances: 34 Labor efficiency variance Labor spending variance B Variable overhead spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours 2,030 units $6,975 Actual Quantity 5,855 pounds 1,125 hours 36 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: 43 Variable overhead efficiency variance 44 Variable overhead rate variance 45 с ? pounds x 5,855 pounds x 5,855 pounds x $23,420 F ? U ? F ? hours * 1,125 hours * 1,125 hours ? 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