Variance Equations Flashcards
1
Q
Material Price Variance
A
(SP - AP) x AQ
2
Q
Labor Rate Variance
A
(S,rate - A,rate) x Actual Hours
3
Q
Material Usage Variance
A
(SQ - AQ) x SP
4
Q
Labor Efficiency Variance
A
(S,hours - A,hours) x S rate
5
Q
Price/Rate Variance
A
(SP - AP) x AQ
6
Q
Usage/Efficiency Variance
A
(SQ - AQ) x SP
7
Q
Sales Price Variance
A
Difference in prices x Actual Quantity Sold
8
Q
Sales Quantity Variance
A
Difference in Units x Planned Price
9
Q
FOH Volume Variance
A
Budgeted OH - (STD FOH Rate x Actual Quantity)
