selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ-Actual Quantity SQ=Standard Quantity AP Actual Price SP Standard Price. AQ Actual Cost X X 44,300 407,560 AP $920 Direct materials price variance Direct materials quantity variance Total direct materials variance $8,860 O AQ 44,300 ♥ Answer is not complete. X X $398,700 $ 8.860 Unfavorable 129,600 Unfavorable Unfavorable SPO $ 0.00 300 129,600 Standard Cost SQ 29,000 X X X 269,100 SP $9.00 00

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.