Chapter 11

Question 1

Price variance direct materials

Answer 1

AQ*(AP-SP)

Question 2

Quantity Variance direct materials

Answer 2

SP*(AQ-SQ)

Question 3

Rate variance direct labor

Answer 3

AH*(AR-SR)

Question 4

Efficiency Variance direct labor

Answer 4

SR*(AH-SH)

Question 5

Fixed overhead budgeted variance

Answer 5

Budgeted-actual

Question 6

Fixed overhead volume variance

Answer 6

Budgeted-(standard direct labor hoursunits produced)standard fixed overhead