Subscript "A" = Actual;subscript "S" = Standard;Q = Quantity of Direct

Essay

Subscript "a" = actual;subscript "s" = standard;Q = quantity of direct materials issued to production;P = price paid for unit of direct materials.
Required: Use the above notation to develop a formula for each of the following standard cost variances: (A)Direct materials price variance (calculated at point of production,not point of purchase).
(B)Direct materials usage variance.
(C)Flexible-budget (FB)variance for direct materials.
(D)Joint price-quantity variance for direct materials.