Description
(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.)
Explanation & Answer
Attached.
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 b
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.
Requirement
1 Complete the table by filling in the missing information.
a.
Use the ABS function when calculating variances, and use the drop-down selections for F or U when describ
Saving & Submitting Solution
1 Save file to desktop.
a.
Create folder on desktop, and label COMPLETED EXCEL PROJECTS
b.
Save your solution in the folder you just created; add -solution-date to end of file name
2 Upload and submit your file to be graded.
a.
Navigate back to the activity window - screen where you downloaded the initial spreadsheet
b.
Click Choose button under step 3; locate the file you just saved and click Open
c.
Click Upload button under step 3
d.
Click Submit button under step 4
Viewing Results
1 Click on Results tab in MyAccountingLab
2 Click on the Assignment you were working on
3 Click on Project link; this will bring up your Score Card
4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with f
al in producing its product, speed bumps for traffic control.
t.
wn selections for F or U when describing the variances.
date to end of file name
oaded the initial spreadsheet
and click Open
) to download spreadsheet with feedback
(Always use cell references and formulas where appropriate to receive full credit.)
Direct materials information
Standard pounds per unit
Standard price per pound
Actual quantity purchased and used per unit
Actual price paid for material per pound
Direct materials price variance
Direct materials quantity variance
Total direct material variance
Number of units produced
Medium speed bump
15
$1,00
14
$1,80
$1.120
U
$100
F
$10
F
100
Large speed bump
285,33
$1,80
16
$2,10
$1.920
U
$485
U
$480
U
400
Capital Investment Decisions and the Time Value of Money
Solve various time value of money scenarios
Review the time value of money scenarios listed below:
1. Suppose you invest a sum of $4,000 in an interest-bearing account at the rate of
10% per year. What will the investment be worth six years from now?
2. How much would you need to invest now to be able to withdraw $6,000 at the end
of every year for the next 20 years? Assume a 12% interest rate.
3.
Assume that you want to have $160,000 saved seven years from now. If you c...