Dm Price Variance = (AP - SP) X AQ DM Quantity Variance = (AQ - SQ) X SP DL Rate Variance = (AR - SR) X AH DL Time Variance = (AH - SH) X SR Where S = standard A= Actual, Q = Quantity, H = Hours, P = Price and R + Rate Dm Price Variance = (AP - SP) X AQ DM Quantity Variance = (AQ - SQ) X SP DL Rate Variance = (AR - SR) X AH DL Time Variance = (AH - SH) X SR Where S = standard A= Actual, Q = Quantity, H = Hours, P = Price and R + Rate