Chapter 10: Standard Costs and Variances Flashcards
1
Q
Direct Materials Variance=
A
(AQ X AP) - (SQA X SP)
2
Q
Direct Materials Price Variance=
A
(AP - SP) X AQ Purchased
3
Q
Direct Materials Quantity Variance=
A
(AQU - SQA) X SP
4
Q
Standard Quantity Allowed=
A
Actual Units Produced X Standard Quantity of DM per unit produced; amount allowed for actual production
5
Q
Direct Labor Variance=
A
(AH X AR) - (SHA X SR)
6
Q
Total VOH Variance =
A
(AH X AR) - (SHA X SR)
7
Q
DL and VOH Rate Variance =
A
(AR - SR) X AH
8
Q
DL and VOH Efficiency Variance=
A
(AH - SHA) X SR
9
Q
Price Variance F & U
A
AP>SP Unfavorable
AP
10
Q
Quantity Variance F & U
A
AQU>SQA Unfavorable
AQU
11
Q
Efficiency Variance F & U
A
AH>SHA Unfavorable
AH
12
Q
Rate Variance F & U
A
AR > SR Unfavorable
AR < SR Favorable
