Accounting Computing Variances & Evaluating Performance

Joy of Baking produces and sells a new Tie Dye cake mix. The mix sells for $28 per package, each of which contains individual packages to prepare 5 cakes.

Use excel spread sheet which contains additional information, detailed questions, and use it for all required calculations for this assignment.

Given the information for the standard and actual costs of this product, prepare the following:

1. A standard cost card
2. The materials variances
3. The labor variances
4. The overhead variances

Also prepare a performance report and explain any major variances.