I need help figuring out the Materials piece on the second half of this excel sheet. 6Actual7 Direct labor:8 StandardA9 Actual10 Variable overhead:11 StandardB12 Standards for one of Patterson, Incorporated's products is shown below, along with actual cost data for the month:34 Direct materials:5 Standard12 Actual13 Total cost per unit14 Excess of actual cost over standard cost per unitС19 Required:20 Using formulas, compute the following. Input all numbers as positive amounts.21 (Hint: This can be done using the ABS function).222.4 yards @3.0 yards @0.6 hours @0.5 hours @D0.6 hours @0.5 hours @E$2.75 per yard$2.70 per yard$18.00 per hour$22.00 per hour$7.00 per hour$7.10 per hourF$6.6010.804.20$21.601516 Actual production for the month13,500 units17 variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month.18G$8.1011.003.55$22.65$1.05HI23 (Use cells A5 to G14 and cell B16 from the given information, as well as cells A27 to D62 to complete this question. All formulas must return positive values. For each variance,24 select either "Favorable" or "Unfavorable".) F27ABD17 variable overnead is assigned to products based on direct labor nours. There was no beginning or ending inventory of materials for the month.1819 Required:20 Using formulas, compute the following. Input all numbers as positive amounts.21 (Hint: This can be done using the ABS function).2226 Standard Cost Variance Analysis - Direct Materials27 Standard Quantity Allowed for Actual Output at Standard Price2823 (Use cells A5 to G14 and cell B16 from the given information, as well as cells A27 to D62 to complete this question. All formulas must return positive values. For each variance,24 select either "Favorable" or "Unfavorable".)25Actual Quantity of Input, at Standard Price29 Actual Quantity of Input, at Actual Price3031 Materials quantity variance32Materials price variance3334 Standard Cost Variance Analysis-Direct Labor35363738394041Standard Hours Allowed for Actual Output at Standard Rate464748Actual Hours of Input, at Standard RateActual Hours of Input, at Actual RateLabor efficiency varianceLabor rate variance42 Standard Cost Variance Analysis - Variable Manufacturing Overhead43Standard Hours Allowed for Actual Output at Standard Rate4445Actual Hours of Input, at Standard RateActual Hours of Input, at Actual Ratevariable overhead efficiency varianceVariable overhead rate variance52 Materials:53 Quantity variance54 Price variance55 Labor:56 Efficiency variance$89,100$111,375$109,35057Rate variance58 Variable overhead:59Efficiency variance60Rate variance6162 Excess of actual over standard cost per unit63$22,275 Unfavorable$2,025 Favorable$145,800$121,500$148,500$24,300 Favorable$27,000 Unfavorable$56,700$47,250$47,9254950 Using formulas, compute the amount of the unit cost difference that is traceable to each of the variances computed above.51$9,450 Favorable$675 UnfavorableUnfavorableHFavorableIJKLM

Variance analysis : Analysis of differences between planned and actual behavior. After analyzing…

1 2 6 Actual 7 Direct labor: 8 Standard Standards for one of Patterson, Incorporated's products is shown below, along with actual cost data for the month: 3 4 Direct materials: 5 Standard 9 Actual Lo Variable overhead: 1 Standard 2 Actual 3 Total cost per unit 4 Excess of actual cost over standard cost per unit C 9 Required: 20 Using formulas, compute the following. Input all numbers as positive amounts. 1 (Hint: This can be done using the ABS function). 2 2.4 yards @ 3.0 yards @ 0.6 hours @ 0.5 hours @ D 0.6 hours @ 0.5 hours @ E $2.75 per yard $2.70 per yard $18.00 per hour $22.00 per hour $7.00 per hour $7.10 per hour $6.60 10.80 4.20 $21.60 5 6 Actual production for the month 13,500 units 7 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. -8 $8.10 11.00 3.55 $22.65 $1.05 H 1 23 (Use cells A5 to G14 and cell B16 from the given information, as well as cells A27 to D62 to complete this question. All formulas must return positive values. For each variance, 24 select either "Favorable" or "Unfavorable".) J

1 2 6 Actual 7 Direct labor: 8 Standard Standards for one of Patterson, Incorporated's products is shown below, along with actual cost data for the month: 3 4 Direct materials: 5 Standard 9 Actual Lo Variable overhead: 1 Standard 2 Actual 3 Total cost per unit 4 Excess of actual cost over standard cost per unit C 9 Required: 20 Using formulas, compute the following. Input all numbers as positive amounts. 1 (Hint: This can be done using the ABS function). 2 2.4 yards @ 3.0 yards @ 0.6 hours @ 0.5 hours @ D 0.6 hours @ 0.5 hours @ E $2.75 per yard $2.70 per yard $18.00 per hour $22.00 per hour $7.00 per hour $7.10 per hour $6.60 10.80 4.20 $21.60 5 6 Actual production for the month 13,500 units 7 Variable overhead is assigned to products based on direct labor hours. There was no beginning or ending inventory of materials for the month. -8 $8.10 11.00 3.55 $22.65 $1.05 H 1 23 (Use cells A5 to G14 and cell B16 from the given information, as well as cells A27 to D62 to complete this question. All formulas must return positive values. For each variance, 24 select either "Favorable" or "Unfavorable".) J

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...

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