Variance Analysis Trainer | A Level Accounting 9706

📝 Step 1 — Entity and Period

Company / Entity Name

Period / Month

Actual Units Produced

🗂️ Step 2 — Enter Standard and Actual Data

Standard (per unit)

Standard quantity per unit (kg/units)

Standard price per kg/unit ($)

Actual (for the period)

Actual quantity purchased Use for Price Variance

Actual quantity used Use for Usage Variance

Actual price paid per kg ($)

Standard (per unit)

Standard hours per unit

Standard wage rate per hour ($)

Actual (for the period)

Actual hours worked

Actual wage rate per hour ($)

Fixed Overhead Budget

Budgeted fixed overhead ($)

Budgeted units of production Used to calculate OAR = Budget ÷ Budgeted units

Actual Fixed Overhead

Actual fixed overhead incurred ($)

Variable Overhead (optional)

Standard variable overhead per unit ($)

Actual variable overhead ($)

Budgeted Sales

Budgeted sales units

Standard selling price per unit ($)

Standard contribution per unit ($) For volume variance — use contribution not selling price

Actual Sales

Actual units sold

Actual selling price per unit ($)

Profit Reconciliation

Budgeted profit / contribution ($)

Actual profit / contribution ($)

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🔵 Material Variances

🟢 Labour Variances

🟡 Fixed Overhead Variances

🔴 Sales Variances

📋 Reconciliation Statement — Budgeted to Actual Profit

🔗 Interrelationship Analysis

🎯 Interpretation Quiz — Test Your Understanding