How do you begin a variance analysis?

INSTRUCTIONS: Prepare the variances and identify whether they are favorable or unfavorable. The below website will provide further assistance with variances: http://accounting-simplified.com/management/variance-analysis/material/price.html DATA FOR VARIANCE ANALYSIS: Standard Standard Actual Actual Hours / Qty Rate Hours / Qty Rate Grooming Labor 150 S 12.00 180 S 11.50 Grooming Materials 1,000 5 2.00 1,200 5 3.00 Favorable/ Variance Unfavorable Groomer Direct Labor Time Variance (Actual Hours - Standard Hours) x Standard Rate Groomer Direct Labor Rate Variance (Actual Rate - Standard Rate) x Actual Hours Direct Materials Quantity/Efficiency Variance (Actual Quantity - Standard Quantity) x Standard Price Direct Materials Price Variance (Actual Price - Standard Price) x Actual Quantity