AQ x AP
AQ x SP
SQ x SP
difference between the first two is the Price Variance (see how the diff is only the price).
difference between the last two is the Quantity Variance. Quantity because you are comparing the quantities.
You can substitute the Q with the H (for Hours, as in DL hours) and the P with the R (rate).
AH x AR
AH x SR
SH x SR
difference between the first two is the Rate Variance (see how the diff is only the rate).
difference between the last two is the Efficiency Variance. Efficiency because you are comparing the actual hours against the standard hours.
The above should be helpful. Whether they give you the amount of the variance and requires you to answer the hours or the price (whether actual or standard), you can just plug and let the above equations play out. Remember it is Favorable if your bottom numbers are higher than the number just right above it (since you are trying to stay within the budget or standard cost).
Oh-Hey-Yoh Candidate
FAR - 89 Dec 2013 (CPAExcel)
AUD - 89 Feb 2014 (CPAExcel)
BEC - 83 Aug 2014 (Becker)
REG - 85 Oct 2014 (Becker)
CMA (Aug 2011), CFSA (Dec 2008), Philippine CPA (Nov 2004)