Exam 3 Flashcards
1
Q
Material Price Variance
A
(Actual quantity) x (Actual price - Standard price)
2
Q
Material Quantity Variance
A
(Standard price) x (Actual quantity - Standard quantity)
3
Q
Direct Labor Price Variance
A
(SR – AR) x AH
4
Q
Direct Labor Quantity Variance
A
SR x (SH – AH)
5
Q
Total Direct Labor Variance
A
(SR x SH) – (AR x AH)
6
Q
Required production units
A
expected unit sales + units in ending inventory - units in the beginning inventory
