The followingcritical elements must be addressed when performing the BudgetVariance Analysis using the Budget Variance Worksheet.
The actual quantity ofmaterial used was 31,000 with an actual cost of $7.75 per unit. Theactual labor hours were 33,000 with an actual rate per hour of$15.
Step 1: CompleteA. Develop a variance analysis including a budget varianceperformance report and appropriate variances for materials, labor,and overhead.
Start with the Labor andMaterials Variance tab.
Standard costs/quantities comefrom the raw materials budget and the labor budget.
Use Exhibits 23-11 on page1235 and 23-12 on page 1237 in the textbook as guides.
After completing the Labor and Materials Variance tab, transfervariances to the Budget Variance Report tab.
Please Note: I have uploaded the entire workbook withinstructions. I have completed everything except the budgetvariance report and the labor and materials variance report. I haveuploaded images of these two tabs which you will see that they arenot completed. I have put these 2 images on top with everythingelse below it.
Instructions:
The rest of the instructions and completed workbook arebelow as a reference
The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget Variance Worksheet. The Budget Variance Worksheet can be found in the Assignment Guidelines and Rubrics folder The actual quantity of materia used was 31,000 with an actual cost of $7.75 per unit. The actual labor hours were 33,000 with an actual rate per hour of $15. Step 1: Complete A. Develop a variance analysis including a budget variance performance report and appropriate variances for materials, labor, and overhead Start with the Labor and Materials Variance tab. Standard costs/quantities come from the raw materials budget and the labor budget Use Exhibits 23-11 on page 1235 and 23-12 on page 1237 in the textbook as guides. After completing the Labor and Materials Variance tab, transfer variances to the Budget Variance Report tab. Congratulations! You have completed the workbook portion of Final Project part I. To complete the remainder of the Budget Variance Analysis portion of Final Project Part I, use the Final Project Pa I Budget Variance Report Template. The Budget variance Report Template can be found in the Assignment Guidelines and Rubrics folder Show transcribed image text The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget Variance Worksheet. The Budget Variance Worksheet can be found in the Assignment Guidelines and Rubrics folder The actual quantity of materia used was 31,000 with an actual cost of $7.75 per unit. The actual labor hours were 33,000 with an actual rate per hour of $15. Step 1: Complete A. Develop a variance analysis including a budget variance performance report and appropriate variances for materials, labor, and overhead Start with the Labor and Materials Variance tab. Standard costs/quantities come from the raw materials budget and the labor budget Use Exhibits 23-11 on page 1235 and 23-12 on page 1237 in the textbook as guides. After completing the Labor and Materials Variance tab, transfer variances to the Budget Variance Report tab. Congratulations! You have completed the workbook portion of Final Project part I. To complete the remainder of the Budget Variance Analysis portion of Final Project Part I, use the Final Project Pa I Budget Variance Report Template. The Budget variance Report Template can be found in the Assignment Guidelines and Rubrics folder
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