I have a online assignment due by tomorrow 12/15/12 on calculation of profit variance, revenue variance, cost variance, volume and price on revenue side and volume and management on cost side. Can you...

COST VARINCES
Cost variance is simply the difference between the actual expenditure and the expected (or budgeted) expenditure, and it can relate to virtually any kind of expense, ranging from elements of the cost of goods sold to administrative expenses.
The cost variance formula is usually comprised of two elements, which are:
· Volume variance. This is the difference in the actual versus expected unit volume of whatever is being measured, multiplied by the standard price per unit. 
· Price variance. This is the difference between the actual versus expected price of whatever is being measured, multiplied by the standard number of units.
The volume and price variances have different names, depending upon the type of expenditure being examined. For example,
A) Material variance :
a) Material cost variance : standard cost of material for actual output – actual cost of material
b) Material price variance : Actual quantity * (Standard price-Actual price)
c) Material Usages variance : Standard price * (Standard Usage-Actual Usage)
illustration :
The following information has been furnished by AB ltd. which has adopted standard costing:
Standard:
            Materials for 150 kg finished products                                   200 Kg
            Price of materials                                                                    $ 4 per kg
Actual:
            Output                                                                                     300000 kg
            Materials used                                                                         360000 kg
            Cost of materials                                                                     $ 684000
         Calculate: (a) Material cost variance; (b) Material price variance & (c) Material usage variance.
Solution:
Standard quantity of material required for actual output:-
                                    =300000 * 200                                                400000 Kg
Actual quantity of material            150                                                360000 kg
Standard price                                                                                     $ 4 per kg
Actual price                 = 684000                                                         $ 1.90 per kg
                                       360000
(a) Material cost variance: Standard Cost-Actual Cost
= (400000*$4) -$ 684000                                                                   $ 916000 Favourable
(b) Materials price variance: Actual quantity * Price...