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AC1115
Standard costs and Variance Analysis
| Term | Definition |
|---|---|
| Sales Price Variance Formula | AS(AP-SP) |
| Sales Volume Variance Formula | (AS-BS) multiply SCU |
| Material Price Variance Formula | AQ(AP-SP) |
| Material Quantity Variance Formula | SP(AQ-SQ) |
| Labour Rate Variance Formula | AH(AR-SR) |
| Labour Efficiency Variance Formula | SR(AH-SH) |
| Variable Overheads Formula | AH(AR-SR) |
| Variable Overhead Efficiency Variance Formula | SR(AH-SH) |
| Fixed Overhead Expenditure Formula | Budgeted - Actual |