Ex 21-15 and P21-4A ON CONNECT
Part 1
Direct Material Price variance:
Actual Cost of direct materials used	Actual quantity used x Standard price	DM price variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Material Quantity variance:
Actual quantity used x Standard price	Standard quantity used x Standard price	DM quantity variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
	(Hint: for standard quantity, take the 30,000 units x 1/2 pound of materials required per unit)
			(show any calculations in this line)
Part 2
Direct Labor Rate variance
Actual Cost of direct labor	Actual DL hours used x Standard rate per hour	DL rate variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Labor Efficiency variance:
Actual DL hours used x Standard rate per hour	Standard DL hours x Standard rate per hour	DL efficiency variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
	(Hint: for standard hours, take 30,000 units x 1/6 hours of direct labor required per unit)
			(show any calculations in this line)
Problem 21-4A
Part 1 - Direct Materials Variances
Direct Material Cost Variance: (this is the total variance for direct materials)
Actual Cost of direct materials used	Standard quantity used x Standard price	DM Cost Variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Material Price variance:
Actual Cost of direct materials used	Actual quantity used x Standard price	DM price variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Material Quantity variance:
Actual quantity used x Standard price	Standard quantity used x Standard price	DM quantity variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Notice -- the total of the Direct material price variance and quantity variance should equal the DM Cost variance.
	Direct materials Price Variance
	Direct material Quantity Variance
	Direct Material Cost Variance
	(If both variances are the same -- meaning, both favorable or both unfavorable, then add. If the variances are different - one is favorable and the other is unfavorable, then subtract)
Part 2
Direct Labor Cost Variance: (this is the total variance for direct labor)
Actual Cost of direct labor	Standard DL hours x Standard rate per hour	DL Cost Variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Labor Rate variance
Actual Cost of direct labor	Actual DL hours used x Standard rate per hour	DL rate variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Direct Labor Efficiency variance:
Actual DL hours used x Standard rate per hour	Standard DL hours x Standard rate per hour	DL efficiency variance	(be sure to include if the variance is FAVORABLE or UNFAVORABLE)
			(show any calculations in this line)
Notice -- the total of the Direct Labor rate and efficiency variances should equal the DL Cost variance.
	Direct Labor Rate Variance
	Direct Labor Efficiency Variance
	Direct Labor Cost Variance
	(If both variances are the same -- meaning, both favorable or both unfavorable, then add. If the variances are different - one is favorable and the other is unfavorable, then subtract)