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Actual Cost Example: $ 661,254 Templates Direct Materials Actual Input Quantity x Budgeted (Std) Price Purchases Flexible Budget (Applied) Usage Price Variance Efficiency Variance NOTE: There is NO "Yotal" variance because Price & Efficiency Varlances are measured at different times for DM. Actual Cost Direct Labor Actual Input Quantity x Budgeted (Std) Rate Flexible Budget (Applied) Price Variance Efficiency Variance Flexible Budget (TOTAL) Variance Actual Cost Incurred Variable Manufacturing Overhead Actual Input Quantity x Budgeted (Std) Rate Flexible Budget (Applied) Allocated Spending Variance Efficiency Varience Flexible Budget (TOTAL) Variance Fixed Manufacturing Overhead Actual Flexible Budget U ACTUAI Cost Actual input Quantity x Budgeted (Std) Rate Flexible Budget (Applied) Price Variance Efficiency Variance Flexible Budget (TOTAL) Variance Actual Cost Incurred Variable Manufacturing Overhead Actual Input Quantity x Budgeted (Std) Rate Flexible Budget (Applied) Allocated Spending Variance Efficiency Varience Flexible Budget (TOTAL) Variance Fixed Manufacturing Overhead Actual Cost Incurred Static FOH Budget Flexible Budget (Same as Statio) Allocated Spending Variance Production Volume Variance TOTAL Fixed OH Variance 22.00 13.00 $ Standards (for a planned level of production of 2,200 units per month) Direct Materials Yards per awning Price per yard Direct Labor Hours per awning Rate per hour Variable MOH standard rate per direct labor hour Fixed MOH standard rate per direct labor hour Total budgeted fixed MOH cost $ $ $ $ 5.00 15.00 8.00 6.00 63,500 $ 12.90 per yd Actual cost and data from the current month: Number of yards purchased Cost of yards purchased Number of yards used Number of awnings produced Actual direct labor hours Actual direct labor cost Actual variable MOH Actual fixed MOH 51,260 661.254 S 47,500 2,200 10,850 168,175 s 93,310 67,500 15.50 per hr $ $ $ these variances using the templates to the right 1. Direct material variances 2. Direct labor variances 3. Variable MOH variances 4. Fixed MOH variances