variance Flashcards
(6 cards)
1
Q
formula for direct material price
A
actual quantity purchased x standard price - actual price
2
Q
forumla for direct material usage
A
standard price x standard quantity for actual output - actual quantity used
3
Q
direct labour rate
A
actual hours worked x standard rate - actual rate
4
Q
direct labour efficiency
A
standard rate x standard hours allowed - actual hours worked
5
Q
variable overhead spending
A
actual hours worked x standard rate - actual rate
6
Q
variable overhead efficiency
A
standard rate x standard hours for actual output - actual hours worked
