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aste B I U A T 55 $ 3 4Xfx A B D E F Standard Costs and Variances Calculate missing direct material variables Last month, Talley Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. Review the data in the ENTERANSWERS tab. Use the blue shaded areas on the EnterAnswers tab for inputs. Always use cell references and formulas where appropriate to receive full credit. 1 Requirement 1 Complete the table by filling in the missing information. 13 Use the ABS function when calculating variances, and use the drop-down selections for For U when describing the variances. 14 a B E (Always use cell references and formulas where appropriate to receive full credit.) Large speed bump Medium speed bump 15 $1.00 3 Direct materials information 4 Standard pounds per unit 5 Standard price per pound 6 Actual quantity purchased and used per unit 7 Actual price paid for material per pound 8 Direct materials price variance 9 Direct materials quantity variance 10 Total direct material variance 11 Number of units produced 12 $1.80 16 $2.10 $1,920 $1.80 $1,120 $100 U F U $480 400 100 13 15 16 17 18 19 20 21 22 B E (Always use cell references and formulas where appropriate to receive full credit.) Large speed bump Medium speed bump 15 $1.00 3 Direct materials information 4 Standard pounds per unit 5 Standard price per pound 6 Actual quantity purchased and used per unit 7 Actual price paid for material per pound 8 Direct materials price variance 9 Direct materials quantity variance 10 Total direct material variance 11 Number of units produced 12 $1.80 16 $2.10 $1,920 $1.80 $1,120 $100 U F U $480 400 100 13 15 16 17 18 19 20 21 22

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