Question

s with Excel Saved Help Save & Exit Submit Required information The Chapter 9 Form worksheet is to be used to create your own worksheet version of the main example in the text. Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell D21 enter the formula "=D14" Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell 825 would be ABS(F21-F22) Cells c25 through C27, C34 through C36, and C43 through C45 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cells-If you do, you will overwrite these formulas. • After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. Check your worksheet by changing the direct materials standard quantity in cell 86 to 29 pounds, the direct labor standard quantity in cell B7 to 0.6 hours, and the variable manufacturing overhead in cell B8 to 0.6 hours. The materials spending variance should now be $1.500 U, the labor spending variance should now be $3,720 F. and the variable overhead spending variance should now be $60 F. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2 This question will be sent to your instructor for grading Prev 1 2 of 2 !!! Next > Chapter 9 Al Chapter 8 Appl. Chapter 8 Apr Show All 9

Answer 1

4 Standard Quantity 3.0 Pounds 0.50 Hours 0.50 Hours Standard Price $4.00 Per Pound $22.00 Per Hour $6.00 Per Hour 3 Data Exhibit 9-8; standard Cost card 5 Inputs 6 Direct Materials 7 Direct Labor 8 Variable Manufacturing Overhead 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 18 Main example; Chapter 9 19 20 Exhibit 9-11; Standard Cost Variance analysis - Direct Materials 21 Actual Quantity of Input, at Actual Price 22 Actual Quantity of Input, at Standard Price 23 Standard Quantity Allowed for the Actual Output, at Standard Price 24 Direct Materials Variances; 25 Materials Price Variance 26 Materials Quantity Variance 27 Materials Spending Variance 2000 Units $7,140 Actual Quantity 6500 Pounds 1050 Hours Actual Price $3.80 Per Pound $21.60 Per Hour 6500 Pounds x 6500 Pounds x 6000 Pounds x $3.80 Per Pound = $4.00 Per Pound = $4.00 Per Pound = $24,700.00 B21*D21 $26,000.00 B22 D22 $24,000.00 B23*D23 F U F

$21.60 Per Hour = $22.00 Per Hour = $22.00 Per Hour = $22,680.00 B30*D30 $23,100.00 B31*D31 $22,000.00 B32*D32 29 Exhibit 9-12; Standard Cost Variance analysis - Direct Labor 30 Actual Hours of Input,at Actual Rate 1050 Hours x 31 Actual Hours of Input, at Standard Rate 1050 Hours x 32 Standard Hours Allowed for the Actual Output, at Standard Rate 1000 Hours x 33 Direct Labor Variances; 34 Labor Rate Variance F 35 Labor Efficiency Variance U 36 Labor Spending Variance F 37 38 Exhibit 9-12; Standard Cost Variance analysis - Variable Manufacturing Overhead 39 Actual Hours of Input,at Actual Rate 1050 Hours x 40 Actual Hours of Input, at Standard Rate 1050 Hours x 41 Standard Hours Allowed for the Actual Output, at Standard Rate 1000 Hours x 42 Variable Overhead Variances; 43 Variable Overhead Rate Variance U 44 Variable Overhead Efficiency Variance U 45 Variable Overhead Spending Variance U $6.80 Per Hour = $6.00 Per Hour = $6.00 Per Hour = $7,140.00 B39*D39 $6,300.00 B40*D40 $6,000.00 B41*D41