Please assist. Phot 2 is the opened spreadsheet. Thank you! Direct materials variancesBellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.40 per pound.15,800 units used 35,700 pounds, which were purchased at $3.50 per pound.This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, andinput your answers in the questions below.Open spreadsheetWhat is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearestdollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.a. Direct materials price varianceb. Direct materials quantity variancec. Direct materials cost variance$%24 Direct materials variancesThe following data is provided for Bellingham Company:DATAResources' requirements, standard pounds per unResources' standard price, per poundUnits producedResources used for production, poundsResources' actual price, per pound2.3$3.4015,80035,700$3.50Using formulas and cell references, perform the required analysis, and input your answers into the green cells inthe Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer thenumeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for grading.AmountFormulasa. Direct materials price varianceb. Direct materials quantity variancec. Direct materials cost variance

Material cost variance shows difference in standard cost and actual cost of materials due to various…

Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.40 per pound. 15,800 units used 35,700 pounds, which were purchased at $3.50 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance 24 b. Direct materials quantity variance $4 c. Direct materials cost variance $4

Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.40 per pound. 15,800 units used 35,700 pounds, which were purchased at $3.50 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance 24 b. Direct materials quantity variance $4 c. Direct materials cost variance $4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Please assist. Phot 2 is the opened spreadsheet. Thank you!

Direct materials variances
Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.40 per pound.
15,800 units used 35,700 pounds, which were purchased at $3.50 per pound.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and
input your answers in the questions below.
Open spreadsheet
What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest
dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct materials price variance
b. Direct materials quantity variance
c. Direct materials cost variance
$
%24

Direct materials variances
The following data is provided for Bellingham Company:
DATA
Resources' requirements, standard pounds per un
Resources' standard price, per pound
Units produced
Resources used for production, pounds
Resources' actual price, per pound
2.3
$3.40
15,800
35,700
$3.50
Using formulas and cell references, perform the required analysis, and input your answers into the green cells in
the Amount column. Select the corresponding type of variance in the dropdowns in cells D15:D17. Transfer the
numeric results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for grading.
Amount
Formulas
a. Direct materials price variance
b. Direct materials quantity variance
c. Direct materials cost variance

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