A Xfx Cost information about Masic Incorporated is provided in cells A6 to D7. Actual cost information is provided in cells A11 to B14. A statement of re B C D E F G H Masik, Incorporated is analyzing its most current direct materials results against the budget. Here is the standard cost information: Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit Direct Materials $ 9.50 2 $ 19.00 3 9 Actual cost information is below: 0 1 Units Produced 4,000 2 Materials Purchased 3 Material Used 8,500 7,800 4 Cost of Direct Materials $ 85,000 5 6 Required: 7 Fill in the cells below with required data for variance calculations and favorability. 8 Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances. 9 20 21 Actual x Actual (used) 22 AQ AP 23 Direct Materials Variances Actual x Standard (used) AQ SP

A Xfx Cost information about Masic Incorporated is provided in cells A6 to D7. Actual cost information is provided in cells A11 to B14. A statement of re B C D E F G H Masik, Incorporated is analyzing its most current direct materials results against the budget. Here is the standard cost information: Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit Direct Materials $ 9.50 2 $ 19.00 3 9 Actual cost information is below: 0 1 Units Produced 4,000 2 Materials Purchased 3 Material Used 8,500 7,800 4 Cost of Direct Materials $ 85,000 5 6 Required: 7 Fill in the cells below with required data for variance calculations and favorability. 8 Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances. 9 20 21 Actual x Actual (used) 22 AQ AP 23 Direct Materials Variances Actual x Standard (used) AQ SP

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 6EB: Given the following information from Power Enterprises direct materials budget, how much direct...

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