Calculate MPV and MQV.

Standard Cost & Variance Analysis Variance Analysis in-Class Example Cost Standard - Material Quantity Std: 3.5 yds./unit - Material Cost/yard: std. material $6/yard 3.5yas@ $6 = $al - Direct Labor Standard Hours: 2 hrs. std. labor - Direct Labor Standard Labor Rate: $18/hour 2hrs $18 = 36 std.vlon - Variable OH PDOR: $4/hour 2 hrs $4 = 8 $65leach Actual Costs incurred: - Units produced: 5,000 140,000 - Cost of Materials Purchased: SB,000 - Qty. of Mat'l pureldet used: 20,000 yards - Qty. of Mat'l purchased 24,000 yads - Actual Direct Labor Cost: $210,000 - Actual Direct Labor Hours: 10,500 hrs. - Actual Variable OH: $40,950 General Formula for calculating Variances: actual price quantity (AQ x AP) - (AQ x SP) - (SO X SP) a standard Price Variance Quy Partiesce or cost or Eficiency variance