Question
In: Finance
Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period...
Requirement 2:
Revise the data in your worksheet to reflect the results for the subsequent period as shown below:
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a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)).
b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)).
c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)).
d. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)).
Solutions
Expert Solution
| a. | ||
| Activity variance for revenue = ( Actual activity - Planning budget activity ) * Standard revenue per unit = ( 1800 - 1700 ) * 16.50 = | 1650 | F |
| b. | ||
| Actual cost of ingredients | 11460 | |
| (-) Actual activity * Standard cost of ingredients per unit = 1800 * 6.25 = | 11250 | |
| spending variance for the cost of ingredients | 210 | U |
| c. | ||
| Actual wages and salaries | 10250 | |
| (-) Standard wages and salaries | 10400 | |
| spending variance for wages and salaries | 150 | F |
| d. | ||
| Actual | Standard cost for actual activity | |
| Cost of ingredients | 11460 | 11250 |
| Wages and salaries | 10250 | 10400 |
| Utilities | 1155 | 1160 |
| Rent | 2200 | 2200 |
| Miscellaneous | 2085 | 2040 |
| Total expense | 27150 | 27050 |
| Actual total expense | 27150 | |
| (-) Standard total cost for actual activity | 27050 | |
| spending variance for total expenses | 100 | U |
jeff jeffy answered 1 year agoRelated Solutions
Revise the data in your worksheet to reflect the results for the subsequent period as shown...
Revise the data in your worksheet to reflect the results for the
subsequent period as shown below:
A
B
C
D
E
F
1
Chapter 8: Applying Excel
2
3
Data
4
Exhibit 8-8: Standard Cost Card
5
Inputs
Standard
Quantity
Standard Price
6
Direct
materials
3.0
pounds
$4.00
7
Direct
labor
0.50
hours
$22.00
per
hour
8
Variable manufacturing overhead
0.50
hours
$6.00
per
hour
9
10
Actual
results:
11
Actual output
2,190
units
12
Actual variable manufacturing overhead...
Revise your worksheet to reflect these updated assumptions then answer the questions that follow. You have...
Revise your worksheet to reflect these updated assumptions then
answer the questions that follow.
You have been provided with the following Aging Report to use to
adjust the Allowance for Uncollectible Accounts for a company at
year end.
Age Group
Accounts
Receivable
Estimated
Percent
Uncollectible
Not yet due
$
90,000
5
%
1-30 days past due
40,000
10
%
31-60 days past due
28,000
20
%
61-90 days past due
22,000
40
%
Over 90 days past due
18,000
80...
Revise your worksheet to reflect these updated assumptions then answer the questions that follow. You have...
Revise your worksheet to reflect these updated assumptions then
answer the questions that follow.
You have been provided with the following Aging Report to use to
adjust the Allowance for Uncollectible Accounts for a company at
year end.
Age Group
Accounts
Receivable
Estimated
Percent
Uncollectible
Not yet due
$
112,000
5
%
1-30 days past due
51,000
10
%
31-60 days past due
50,000
20
%
61-90 days past due
44,000
40
%
Over 90 days past due
29,000
80...
Confirm your calculations in Requirement 3 above by increasing the unit sales in your worksheet by...
Confirm your
calculations in Requirement 3 above by increasing the unit sales in
your worksheet by 20% so that the Data area looks like this:
A
B
C
D
1
Chapter 5: Applying Excel
2
3
Data
4
Unit sales
24,000
units
5
Selling price per unit
$10
per unit
6
Variable expenses per unit
$5
per unit
7
Fixed expenses
$90,000
8
(a)
What is net operating
income? (Negative amount should be indicated by a minus
sign.)
(b)...
2. Change all of the numbers in the data area of your worksheet so that it...
2. Change all of the numbers in the data area of your worksheet
so that it looks like this:
A
B
C
1
2
3
4
5
6
7
Chapter 5: Applying Excel
Data
Unit sales
30,000
units
Selling price per unit
$30
per unit
Variable expenses per unit
$18
per unit
Fixed expenses
$288,000
If your formulas are correct, you should get the correct answers
to the following questions.
(a) What is the break-even in dollar sales?
(b) What...
2. Change all of the numbers in the data area of your worksheet so that it...
2. Change all of the numbers in the data area of your worksheet
so that it looks like this:
A
B
C
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Chapter 4: Applying Excel
Data
Selling price per unit
$334
Manufacturing costs:
Variable per unit produced:
Direct materials
$135
Direct labor
$54
Variable manufacturing overhead
$26
Fixed manufacturing overhead per
year
$119,600
Selling and administrative
expenses:
Variable per unit sold...
2. Change all of the numbers in the data area of your worksheet so that it...
2. Change all of the numbers in the data area of your worksheet
so that it looks like this: If your formulas are correct, you
should get the correct answers to the following questions.
A
B
C
D
1
Chapter 5: Applying Excel
2
3
Data
4
Unit sales
80,000
units
5
Selling price per unit
$20
per unit
6
Variable expenses per unit
$14
per unit
7
Fixed expenses
$384,000
8
(a) What is the break-even in dollar sales?...
2. Change all of the numbers in the data area of your worksheet so that it...
2. Change all of the numbers in the data area of your worksheet
so that it looks like this:
A
B
C
D
1
Chapter 3: Applying Excel
2
3
Data
4
Unit sales
30,000
units
5
Selling price per unit
$50
per unit
6
Variable expenses per unit
$20
per unit
7
Fixed expenses
$720,000
8
If your formulas are correct, you should get the correct answers
to the following questions.
(a) What is the break-even in dollar sales?...
2. Change all of the numbers in the data area of your worksheet so that it...
2.
Change all of the numbers in the data area of your worksheet so
that it looks like this:
3
Data
4
Selling price per unit
$374
5
Manufacturing costs:
6
Variable per unit produced:
7
Direct materials
$152
8
Direct labor
$58
9
Variable manufacturing overhead
$38
10
Fixed manufacturing overhead per year
$166,400
11
Selling and administrative expenses:
12
Variable per unit sold
$4
13
Fixed per year
$98,000
14
15
Year 1
Year 2
16
Units in...
2. Change all of the numbers in the data area of your worksheet so that it...
2.
Change all of the numbers in the data area of your worksheet so
that it looks like this:
3
Data
4
Selling price per unit
$374
5
Manufacturing costs:
6
Variable per unit
produced:
7
Direct
materials
$152
8
Direct
labor
$58
9
Variable manufacturing overhead
$38
10
Fixed
manufacturing overhead per year
$166,400
11
Selling and administrative
expenses:
12
Variable per unit
sold
$4
13
Fixed per
year
$98,000
14
15
Year 1
Year 2
16
Units in...
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