acct formulas variances Flashcards by Daniel Berhe | Brainscape

Q

Materials Quantity Variance (MQV)

A

MQV = SP (AQ-SQ)

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Q

Materials Price Variance (MPV)

A

MPV = AQ(AP-SP)

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Q

Labor efficiency variance (LEV)

A

LEV = SR(AH-SH)

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Q

Labor rate variance (LRV)

A

LRV = AH(AR-SR)

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Q

Variable overhead efficiency variance (VMEV)

A

VMEV= SR(AH-SH)

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Q

Variable overhead rate variance (VMRV)

A

AH (AR-SR)

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