BE10.8-Using Excel to Calculate Direct Labor Variances PROBLEM Rob, the production manager, was pleased at the company's income statement results, even though actual sales volume came in below. original projections. Information concerning the budgeted and 3 actual amounts for direct labor are provided here. 3 _0 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Actual direct labor cost Budgeted direct labor cost Actual direct labor hours used Actual units produced and sold Units below budget for sales volume Budgeted direct labor hours per unit Budgeted direct labor rate per hour $ 55,000 $ 63,000 2,500 1,200 200 $ 2 22.50 Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. Calculate the company's DL price and DL efficiency variances. Actual Unnamed Flexible Budget

BE10.8-Using Excel to Calculate Direct Labor Variances PROBLEM Rob, the production manager, was pleased at the company's income statement results, even though actual sales volume came in below. original projections. Information concerning the budgeted and 3 actual amounts for direct labor are provided here. 3 _0 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Actual direct labor cost Budgeted direct labor cost Actual direct labor hours used Actual units produced and sold Units below budget for sales volume Budgeted direct labor hours per unit Budgeted direct labor rate per hour $ 55,000 $ 63,000 2,500 1,200 200 $ 2 22.50 Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. Calculate the company's DL price and DL efficiency variances. Actual Unnamed Flexible Budget

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Acme Inc. has the following information available: Actual Price paid for material $1.00 Standard Price for material $0.90 Actual quantity purchased and used in production 100 Standard quantity for units produced 90 Actual labor rate per hour $15.00 Standard labor rate per hour $14.00 Actual hours 200 hours Standard hours for units produced 190 hours Variance Variance Amount Favorable (F) or Unfavorable (U) Material Price Material Quantity Total DM Cost Variance Labor Rate Labor Efficiency Total DL Cost Variance
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