ACC 402: Variances

A flashcard set covering all variances including DC, OH, and Revenue variances.

Direct Materials (DM) Static Budget Variance

Actual DM cost - (Static) Budgeted DM cost

(AO * AI * AP) - (EO * SI * SP)

Direct Materials (DM) Flexible Budget Variance

Actual DM cost - (Flexible) Budgeted DM cost

(AO * AI * AP) - (AO * SI * SP)

Direct Materials (DM) Volume Variance

Flexible - Static Budgeted DM cost

(AO * SI * SP) - (EO * SI * SP)

Direct Materials Price Variance

Actual DM cost - Actual DM quantity at standard price

(AO * AI * AP) - (AO * AI * SP)

Direct Materials (DM) Efficiency Variance

Actual DM quantity at standard price - (Flexible) budgeted DM cost

(AO * AI * SP) - (AO * SI * SP)

Direct Materials (DM) Mix Variance

Actual quantity w/ actual mix % - Actual quantity w/ standard mix % (Both at standard price)

(AO * AI * A% * SP) - (AO * AI * S% * SP)

Direct Materials (DM) Yield Variance

Actual inputs - Standard inputs (Both at standard mix % and price)

(AO * AI * S% * SP) - (AO * SI * S% * SP)