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Accounting > 222 Exam 3 Formulas > Flashcards

222 Exam 3 Formulas Flashcards

0
Q

Quantity variance

A

SP(AQ-SQ)

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1
Q

Revenue variance

A

Actual revenue - flex budget revenue

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2
Q

Price variance

A

AQ(AP-SP)

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3
Q

Spending variance

A

APxAQ-SPxSQ

actual cost - flex budget cost

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4
Q

Labor efficiency variance

A

SR(AH-SH)

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5
Q

Labor rate variance

A

AH(AR-SR)

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6
Q

VOH efficiency variance

A

SR(AH-SH)

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7
Q

VOH rate variance

A

AH(AR-SR)

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8
Q

Make a production budget

A 
Budgeted sales
Add:desired ending inventory
Total needs
Less: beginning inventory
Required production
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Accounting (7 decks)

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