This document outlines the formulas used to calculate variances in standard costing for materials, labor, variable overhead, and fixed overhead. For materials, it defines formulas to calculate variances for material price, usage, mix, and yield. For labor, it provides formulas for labor rate, efficiency, mix, idle time, and total efficiency variances. For variable overhead, the variances calculated are spending and efficiency. For fixed overhead, the variances include expenditure, volume, capacity, calendar, and efficiency.