Use this format Flexible Budget: Standard Input Quantities Allowed for Actual Cost Incurred: Actual Input Quantities x Actual Prices Outputs Achieved Actual Input Quantities Standard Prices Syyy Standard Prices Szzz In general: Price variance Quantity variance (B - C) (A - B) Flexible-budget variance (A-C) Use this format Flexible Budget: Standard Input Quantities Allowed for Actual Cost Incurred: Actual Input Quantities x Actual Prices Outputs Achieved Actual Input Quantities Standard Prices Syyy Standard Prices Szzz In general: Price variance Quantity variance (B - C) (A - B) Flexible-budget variance (A-C)