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Overhead expenditure variance Budgeted expenditure - actual expenditure
Overhead volume variance (Budgeted volume - actual volume)×abs per unit
Overhead capacity variance (Budgeted hrs - actual hrs) × abs per unit
Overhead efficiency variance (Std hrs - actual hrs) × abs rate per hour for actual production
Fixed overheads variance Std cost of overheads for one × qty produced - actual cost of overheads
Total materials variance Std cost of materials for one × qty produced - actual cost of materials or std price × std qty - atual qty × actual price
Material price variance The change in price × actual qty used or (std price - actual price) × actual qty
Materials usage variance The total difference in qty used × std price per unit or (std qty - actual qty) × std price
Total labour variance Std cost of labour for one × qty produced - actual cost of labour or std rate × std hours - actual rate × actual hours
Labour rate variance The change in the rate of pay × the actual hrs worked or (std rate - actual rate) × actual hrs
Labour efficiency variance (Std hrs - actual hrs worked) × std hourly rate
Labour idle time variance Hrs of idle time × std rate per hour
Created by: 100000911785871
Popular Accounting sets




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