Match the terms with their definitions.

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Unfavorable variance

Favorable variance

Materials quantity variance

Materials price variance

Labor efficiency variance

Labor rate variance

The difference between actual costs for materials purchased and budgeted costs based on the standards.

The difference between the actual quantity of materials used in production and budgeted materials that should have been used in production based on the standards.

A variance that has a positive impact on operating profit.

A variance that has a negative impact on operating profit.

The difference between actual costs for direct labor and budgeted costs based on the standards.

The difference between the actual number of direct labor hours worked and budgeted direct labor hours that should have been worked based on the standards.