Variance Analysis
Insert a formula into each cell marked with a "?". For the variances indicate whether they are favorable or unfavorable
Bradley Company produces a garden statue which requires the following variable manufacturing costs:
			Std Qty		Std Price/Rate
Direct material (mix)			6	lbs	0.06	per lb
Direct labor			1	hours	$16	per hour
Variable O/H (based on direct labor hours)			1	hours	$8.30	per hour
Standard Cost per Unit:
	Standard Cost
Direct Material	0.36
Direct Labor	$16.00
Variable O/H	$8.30
Total Std Cost per Unit	$24.66
Bradley incurred the following variable production costs in February:
Units produced	500
	Actual Qty		Actual Price/Rate		Actual Cost
Direct materials	2880	lbs	$0.07	per lb	$100,800.00
Direct labor	475	hours	$15.00	per hour	$3,562,500.00
Variable O/H	475	hours	$8.00	per hour	$1,900,000.00
Total Actual cost					$5,563,300.00
Variance Calculations
Total Variance
Standard -	Actual =		Variance
?	?		?
Direct Material Variances
Total
Standard -	Actual =		Variance
?	?		?
Price
Difference in price x	Actual Qty =		Variance
?	?		?
Quantity
Difference in quantity x	Standard Price =		Variance
?	?		?
Direct Labor Variances
Total
Standard -	Actual =		Variance
?	?		?
Rate
Difference in price x	Actual Qty =		Variance
?	?		?
Efficiency
Difference in quantity x	Standard Price =		Variance
?	?		?
Variable O/H Variances
Total
Standard -	Actual =		Variance
?	?		?
Rate
Difference in price x	Actual Qty =		Variance
?	?		?
Efficiency
Difference in quantity x	Standard Price =		Variance
?	?		?