CHAPTER_11_FORMULAE

# CHAPTER_11_FORMULAE - PV = Price variance SP i = Standard...

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CHAPTER 11 FORMULAE Formulae EP = SP i × SQ i EV = SP i × (TAQ i – TSQ i ) FB = EP × AQ PV = (AP i – SP i ) × TAQ i TSQ i = SQ i × AQ Variable Definitions AP i = Actual price of one unit of input AQ = Actual quantity of units EP = Expected price of one unit EV = Efficiency variance FB = Flexible budget MB = Master budget total costs or revenues
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Unformatted text preview: PV = Price variance SP i = Standard price of one unit of input SQ i = Standard quantity of input to make one unit TAQ i = Total actual quantity of the input used TSQ i = Total standard quantity of inputs used (at flexible budget volumes)...
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