ACCT 204 Chapter 9 formulas

fixed overhead spending variance

the difference between actual fixed overhead cost and budgeted fixed overhead cost.

fixed overhead volume variance

the difference between budgeted fixed overhead cost and applied fixed overhead cost

direct labor spending variance

the sum of the direct labor rate and direct labor efficiency variances (DL rate+ DL Efficiency variances)

direct materials spending variance

the sum of the direct materials price and direct materials quantity variances (Direct Materials Price + DM Quantity variances)

variable overhead spending variance

the sum of the variable overhead rate and the variable overhead efficiency variances

direct materials price variance

(Actual Quantity) x (Selling Price - Actual Price)

direct labor efficiency variance

(Standard Hours - Actual Hours) x Standard Rates

direct materials quantity variance

(Standard Quantity - Actual Quantity) x Standard Price

The variable overhead rate variance

AH x (SR - AR)

direct labor rate variance

Actual Hours x (Standard Rate - Actual Rate)

FOH spending variance + FOH volume variance

Over/under-applied FOH