Conditional Formatting of a Label on a nested formview.

I am working on a page to collect variance analysis of financial information.  I want to present the variance "facts"  - "The <Account Grouping> line item is <over budget, under budget, on budget> by <Variance Amount> or <%VarianceAmount>. "  (The account grouping could be Revenue, Expense, Volume or FTE.)  I want the "facts" to be presented on the page where the Managers explanation of variance will be collected. 
I want to create one page to present the different account groups.  I want to format Revenue and Expense as Currency and Volume and FTE as number. 
I can do the if statement, but I don't know the syntax to access and change the format of the label control. 
My specific scenario is : I have an ItemTemplate on a formview nested in an InsertItem Template of a formview.  I want to be able to format a label on the itemtemplate as eith ...