Its confusing when it comes to variance. I make lots of mistakes n find difficult to keep in mind them. So if anyone of u have a suggestion how NOT to confuse among the variances.
Try to understand the underlying concept rather than memorising,
Price variance- You are comparing the price or material or wage rate, so this will be the varying factor.
Efficiency/ Usage variance- How much is actually used compared to how much should be used, so the amount of material or the wage rate will the varying factor.
Set up a proforma and when you do the exam kit, stick to it while you answer questions and it will come to you naturally.
Hope this helps.