# Problem 1 Cash Budget and Problem 2. Material and Labor variances

MANAGERIAL ACCOUNTING INSTRUCTIONS FOR PROBLEM SET .You need to prepare the solutions using Excel. Your exam solution should be in one Excel file with a separate tab/worksheet for each problem. REMEMBER TO USE AS MANY FORMULAS AS POSSIBLE IN EXCEL. DO NOT USE EXCEL AS A WORD PROCESSOR!I attached the prpblems
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MANAGERIAL ACCOUNTING
INSTRUCTIONS FOR PROBLEM SET
.You need to prepare the solutions using Excel. Your exam solution should be in
one Excel file with a separate tab/worksheet for each problem.
REMEMBER TO USE AS MANY FORMULAS AS POSSIBLE IN EXCEL. DO
NOT USE EXCEL AS A WORD PROCESSOR!
Problem 1
Cash Budget
Star Wars Inc. is preparing its cash budget for April. The budgeted beginning cash
balance is \$19,000. Budgeted cash receipts total \$105,000 and budgeted cash
disbursements total \$98,000. The desired ending cash balance is \$50,000. The company
can borrow up to \$120,000 at any time from a local bank, with interest not due until the
following month.
Required: Transfer the information in the table above to an Excel spreadsheet and prepare the
solutions to the following question. In using Excel, you should use appropriate formulas and
each question.
Required:
Prepare the company’s cash budget for April in good form. Make sure to indicate what
borrowing, if any, would be needed to attain the desired ending cash balance.
Problem 2.
Material and Labor variances
Bombastic Corporation makes a product with the following standard costs:
The Company reported the following results concerning this product in August.
The materials price variance is recognized when materials are purchased. Variable
overhead is applied based on direct labor-hours.
Required: Transfer the information in the table above to an Excel spreadsheet and prepare the
solutions to the following questions. Your solution should show the appropriate formulas and the
detailed calculations. In using Excel, you should use appropriate formulas and functions to show
final form.
Required:
a. Compute the materials quantity variance.
b. Compute the materials price variance.
c. Compute the labor efficiency variance.
d. Compute the direct labor rate variance.

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