MFAC Learning unit 10 Standard costing formulas Flashcards
Know all Formulas
1
Q
Material Price Variance
A
(Ap x AQ) vs (SP x AQ) 2-1
2
Q
Material Usage Variance
A
( AQ x Sp ) vs ( SQ x Sp ) 2-1
3
Q
Labour rate variance
A
( AR x AH) vs ( SR x AH)
4
Q
Labour efficiency Variance
A
( AH x SR ) vs ( SH X SR )
5
Q
Variable manufacturing overhead rate variance
A
( AR X AH ) vs ( SR x AH )
6
Q
Variable manufacturing overheads effciency variance
A
( AH X SR ) vs ( SH X SR )
7
Q
Selling price variance
A
( AP x Av ) vs ( Sp x AV )
