Study Notes

01. Standard/Actual/Budgeted Input/Output/Quantity/Rate/Cost
02. Recalculating Standard Quantity/Cost for/of Actual Output
03. Recalculating Standard Quantity/Cost for/of Actual Input
04. Revising Standards
05. Material Variances :: Overview
06. Material Cost Variance
07. Material Price Variance
08. Material Usage/Quantity Variance
09. Material Mix Variance
10. Material Yield Variance
11. Material Yield Variance when there are losses
12. Formulae Review & Illustration
13. Calculating variances using cost data when quantities and prices are not known
14. Reconciliation Statements
15. Material Variances :: Treatment in Cost Accounting
16. Material Variances :: Accounting (Recording) Journal Entries

Question Answers

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Problems Solutions

01. Single/One Type of Material
02. Single/One Type of Material » Stocks : Closing - Opening; Losses
03. Two or More types of Materials
04. Two or More types of Materials » Losses
05. Two or More types of Materials » Stocks
06. Two or More types of Materials » Revision of Standards
07. Two or More types of Materials » Finding Missing Figures
08. Two or More types of Materials » Advanced/Miscllaneous
09. Material and Labour/Labor Combined Problems

Study Notes

01. Standard/Actual/Budgeted Input/Output/Time/Rate/Cost
02. Standard Cost for Actual Output
03. Recalculating Standards based on actual output/input time
04. Revision of Standards
05. Labour/Labor Variances :: Overview
06. Labour/Labor Cost Variance
07. Labour/Labor Rate of Pay Variance
08. Labour/Labor Usage/Efficieny Variance
09. Labour/Labor Idle Time Variance
10. Labour/Labor Mix/Gang-Composition Variance
11. Labour/Labor Yield/Sub-Usage/Sub-Efficiency Variance
12. Labour/Labor Variances :: Formulae Review and Illustration
13. Calculating Variances using cost data when time and wage rates are not known
14. Reconciliation Statements
15. Treatment in Cost Accounting
16. Accounting (Recording) Journal Entries

Question Answers

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Problems Solutions

01. Labour/Labor Variances » Single Type
02. Labour/Labor Variances » Single Type - Abnormal Idle Time
03. Labour/Labor Variances » Two or More Types
04. Labour/Labor Variances » Two or More Types - Abnormal Idle Time
05. Labour/Labor Variances » Two or More Types - Revision
06. Labour/Labor Variances » Two or More Types - Miscllaneous/Advanced
07. Labour/Labor :: Reconciliation of Standard and Actual Costs
08. Material and Labour/Labor Combined Problems

Study Notes

01. Overheads :: Direct, Indirect Expenses 03. Overhead Absorption :: Pre Determined Rates of Absorption 05. Overhead Variances :: Overview
06. Total Overhead Cost Variance
07. Variable Overhead Cost Variance
08. Fixed Overhead Cost Variance
09. Variable Overhead Expenditure Variance
10. Variable Overhead Efficiency Variance
11. Fixed Overhead Expenditure Variance
12. Fixed Overhead VolumeVariance
13. Fixed Overhead Calendar Variance
14. Fixed Overhead Capacity Variance
15. Fixed Overhead Efficiency Variance

Question Answers

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Problems Solutions

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