Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Inputs Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds > ? pounds x ? pounds x ? ? ? ? hours * ? hours x ? hours x ? ? ? ? hours * ? hours x ? hours x ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Requirement 1 Requirement 2
Chapter 10: Applying Excel
Data
Exhibit 10-1: Standard Cost Card
Direct materials
Direct labor
Variable manufacturing overhead
Actual results:
Actual output
Actual variable manufacturing overhead cost
Actual direct materials cost
Actual direct labor cost
Inputs
Enter a formula into each of the cells marked with a ? below
Main Example: Chapter 10
Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials
Actual Quantity of Input, at Actual Price
Actual Quantity of Input, at Standard Price
Standard Quantity Allowed for the Actual Output, at Standard Price
Direct materials variances:
Materials price variance
Materials quantity variance
Materials spending variance
Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor
Actual Hours of Input, at Actual Rate
Actual Hours of Input, at Standard Rate
Standard Hours Allowed for the Actual Output, at Standard Rate
Direct labor variances:
Labor rate variance
Labor efficiency variance
Labor spending variance
Standard Quantity
3.0 pounds
0.50 hours
0.50 hours
Actual Hours of Input, at Standard Rate
Standard Hours Allowed for the Actual Output, at Standard Rate
Variable overhead variances:
Variable overhead rate variance
Variable overhead efficiency variance
Variable overhead spending variance
Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead
Actual Hours of Input, at Actual Rate
2,100 units
$5,100
Actual Quantity
6,350 pounds
1,020 hours
? pounds x
? pounds x
? pounds x
?
?
?
? hours x
? hours x
? hours x
?
?
?
? hours x
? hours x
? hours *
?
?
?
Standard Price
$4.00 per pound
$22.00 per hour
$6.00 per hour
Actual price
$4.10 per pound
$22.10 per hour
? per pound =
? per pound =
? per pound =
? per hour =
? per hour =
? per hour =
? per hour =
? per hour =
? per hour =
?
?
?
?
?
?
?
?
?
Transcribed Image Text:Requirement 1 Requirement 2 Chapter 10: Applying Excel Data Exhibit 10-1: Standard Cost Card Direct materials Direct labor Variable manufacturing overhead Actual results: Actual output Actual variable manufacturing overhead cost Actual direct materials cost Actual direct labor cost Inputs Enter a formula into each of the cells marked with a ? below Main Example: Chapter 10 Exhibit 10-4: Standard Cost Variance Analysis-Direct Materials Actual Quantity of Input, at Actual Price Actual Quantity of Input, at Standard Price Standard Quantity Allowed for the Actual Output, at Standard Price Direct materials variances: Materials price variance Materials quantity variance Materials spending variance Exhibit 10-6: Standard Cost Variance Analysis-Direct Labor Actual Hours of Input, at Actual Rate Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Direct labor variances: Labor rate variance Labor efficiency variance Labor spending variance Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Actual Hours of Input, at Standard Rate Standard Hours Allowed for the Actual Output, at Standard Rate Variable overhead variances: Variable overhead rate variance Variable overhead efficiency variance Variable overhead spending variance Exhibit 10-8: Standard Cost Variance Analysis-Variable Manufacturing Overhead Actual Hours of Input, at Actual Rate 2,100 units $5,100 Actual Quantity 6,350 pounds 1,020 hours ? pounds x ? pounds x ? pounds x ? ? ? ? hours x ? hours x ? hours x ? ? ? ? hours x ? hours x ? hours * ? ? ? Standard Price $4.00 per pound $22.00 per hour $6.00 per hour Actual price $4.10 per pound $22.10 per hour ? per pound = ? per pound = ? per pound = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? per hour = ? ? ? ? ? ? ? ? ?
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