Formula Sheet: You can refer back to this at any point in th…

Formula Sheet: You can refer back to this at any point in the exam.    Price (spending) variance              = (AP – BP) × AQQuantity (efficiency) variance      = (AQ – BQ) × BPProduction-Volume variance       = Budgeted Fixed Overhead − Fixed Overhead allocated for actual outputSales mix variance = (Actual sales mix − Budgeted sales mix) × Total actual units × Budgeted CM per unitSales quantity variance = (Total actual units – Total budgeted units) × Budgeted sales mix × Budgeted CM per unitMarket share variance = (Actual market share − Budgeted market share) × Actual total market units × Budgeted sales mix × Budgeted CM per unitMarket size variance = (Actual total market units – Budgeted total market units) × Budgeted market share × Budgeted sales mix × Budgeted CM per unit