Variances!

Material Price (SP-AP[purchase])AQ
differents between standard cost & actual quantity of used/purchased
(selling standard price-actual selling price)actual quality

Fav - change supplier, better price negotiate, buying a lower price material, fall in market price, unforeseen discount received, purchase lower price then standard.
Ad - price increase, careless purchasing, change in material standard.

Material Usage (SQ-AP[used])SP
differents between standard quality of material, how much material should be been used, valued at standard cost
(actual production*standard$/q-actual quality*standard rate)

Fav - material used of higher quality then standard, more efficient use of material, errors in allocating material to jobs.
Ad - defective of materials, careless of use of material, pilferage, excessive waste/theft, errors in allocating material to jobs.

Labour Rate (SR-AR[paid])AH
standard cost & actual cost for number of hour paid
(standard hour rate-actual hour rate)actual hour

Fav - use of workers at rate of pay lower then standard
Ad - wage are increase

Labour Efficiency (SH-AH)SR
hour should have been worked number of units actually produced & actual number of hours worked valued at standard rate/hour
(actual production*standard$/q-idle time/actual hour*standard rate)

Fav - output produced more quickly then expected because of worker motivation, errors in allocating material to jobs.
Ad - lost time in excess of standard, output lower then standard set because of lack of training, errors on allocating of material to jobs.

Labour idle time (idel*SR)-VE
(actual hour*standard rate-idle time*standard rate)

Always is adverse! - machine breakdown, illness/injury to worker

Variable overhead Expenditure (SAR-AAR)AH
amount of variable production overhead should be been incurred
(standard rate-actual rate)actual hour

Fixed overhead Expenditure (budgeted-actual expenditure)
budgeted fixed production overhead expenditure & actual fixed production overhead expenditure
(budgeted-actual[bugdeted units*standard$/q])

Fav - saving in costs incurred, more economical use of services, less has been spent then bugdeted, prices reduction, seosonal effects.
Ad - increase in cost of services used, excessive use of services, change in type service used.

Variable overhead Efficiency (SH-AH)SAR
standard number of hours been worked for number of units actually produced & actual number of hours worked valued at volume production overhead rate/hour
(actual production*standard&/q-actual hours*standard rate)

Fixed overhead Efficiency (SH-AH)SAR
number of hours that actual production should have taken, number of actually taken multiplied by standard absorption rate/hour
(actual production*standard$/q-actual hour*standard rate)

Fav - use of workers at rate of pay lower then standard
Ad - wafe are increase

Fixed overhead Capacity (AH-BH)SAR
budgeted hours of worked & actual hours worked multiplied by standard absorption rate/hour
(actual hour*standard rate-budgeted production*standard$/q)

Fav - actual time worked greater then budgeted eg.OT, worked more labour hour then budgeted.
Ad - excessive idle time, shortage of plant capital.

Fixed overhead Volume (SQ-BQ)SAR
actual & budgeted production/volume multiplied by standard absorption/unit
(capacity+efficiency) / (idle/worked hour*fixed overhead$/q-actual production*fixed overhead$/q)

Fav - producing more then budgeted.

Sale Volume -(BQ-AQ)SP -> gross profit
(-actual sale volume*standard production margin[gross profit rate])

Sale Price -(SP-AP)AQ
(standard selling price-actual selling price)actual sale units