Hmm... well, my words don't really have much to do with the formulas. I was actually just asking for some clarification on all the actual vs revised, etc. so that I could interpret your equations a bit better.
The basic variance formulas are:
price/cost variance = (standard price/cost - actual price/cost) * actual quantity/usage
quantity/usage variance = (standard quantity/usage - actual quantity/usage) * standard price/cost
As you can see, different words can be used because they can be applied to different things. But basically, one is the dollar amount and the other is the quantity of some sort, regardless of what you call them. But, this is also based on an original standard versus an actual figure.
You seem to be using them to compare an original with a revised, a use I've never seen. (Hence, being non-conventional I guess. :-)) And then I guess you're comparing the revised with the actual. To me, math is math, so I can apply this to anything if I understand what I'm applying it to. So I was trying to "get" what you were attempting to do here.
When I first looked at it, it looked like your price planning variance was incorrect, because it said "*standard quantity." But in looking at it further, it looks like you're comparing an original standard with a revised standard. In my equations, that would make "standard on revised" the same as "actual" for the planning portion. If that makes sense. So I think it's all actually correct.
Are you following any of this jibberish? :-)
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