Based on the data presented in the Spreadsheet below (Variances tab), complete the following calculations. Calculate...

Based on the data presented in the Spreadsheet below (Variances tab), complete the following calculations.

Calculate the material variances.
Calculate the labor variances.

Complete your calculations by filling the in highlighted cells. Discuss your observations about the variances and ways to plan to improve any of the variances.

Cookie Business


Actual Cost of Direct Materials	$ 225,000
Standard Cost of Direct Materials	$ 224,800
Actual Materials Used	30
Standard Materials Used	31

Actual Direct Labor Rate	$ 15.50
Standard Labor Rate	$ 15.00
Actual Hours Worked	45
Standard Hours Worked	40

	Amount	Favorable/ Unfavorable
Calculate Materials Variances:
Materials Price Variance
Materials Quantity Variance

Calculate Labor Variances:
Labor Rate Variance
Labor Efficiency Variance

Expert Solution

ekkarill92 answered 1 year ago

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