Sales price (actual sales price ~ standard sales price) actual volume Sales margin (actual margin ~ standard margin) actual volume Sales volume (actual volume ~ budgeted volume) standard margin Sales mix margin (actual sales volume ~ standard mix of actual total sales volume) standard margin Direct material price (actual price ~ standard price) actual quantity Direct material usage (actual quantity ~ standard quantity of actual production) standard price Direct material mix (actual mix of actual total material input ~ standard mix of actual total material input) standard price Direct material yield (actual yield ~ standard yield of actual total material input) standard material cost Direct labour rate (actual rate ~ standard rate) actual hours Direct labour efficiency (actual hours ~ standard hours of actual production) standard rate Direct labour mix (actual mix of actual total hours ~ standard mix of actual total hours) standard rate Direct labour yield (actual yield ~ standard yield of actual total labour hours) standard labour cost Direct labour idle time (idle hours x standard rate) Fixed overhead volume ( actual volume ~ budgeted volume) fixed overhead absorption rate Fixed overhead (budgeted fixed overhead cost ~ actual fixed overhead cost) expenditure Variable overhead (actual hours ~ standard hours) variable overhead efficiency absorption rate Variable overhead actual variable overhead cost ~ (actual hours x variable expenditure overhead absorption rate)
Planning Variances Formula
Material price (original standard price ~ revised standard price) revised standard quantity Material usage (original standard quantity ~ revised standard quantity) original standard price Labour rate (original standard rate ~ revised standard rate) revised standard hour Labour efficiency (original standard hour ~ revised standard hour) original standard rate
Operating Variances Formula
Material price (actual price ~ revised standard price) actual quantity Material usage (actual quantity ~ revised standard quantity) revised standard price Labour rate (actual rate ~ revised standard rate) actual hour Labour efficiency (actual hour ~ revised standard hour) revised standard rate