Untitled

Page 1

Chapter 9

Activity Variance = Plan vs Flex

Spending and Revenue Variance = Actual vs Flex

Flexible Budget = Actual activity vs. planned prices

Static Budget = Planned Activity vs Planned Prices

Actual Budget - Actual :)

Chapter 10

Price Variance = (Standard Price - Actual Price) x Actual Quantity

Standard Quantity Allowed = Actual Units Produced x Standard Quantity of Materials per Unit

Material Variance = (Standard Quantity Allowed - Actual Quantity) x Standard Price of a Unit of a Direct Material

Labor Efficiency Variance = (Actual Hours - Standard Hours) x Standard Price

Chapter 12