Standard Costing - Variance Analysis - Study Notes

Material Variances

  1. Standard/actual/budgeted material input/output/quantity/price/cost
  2. Recalculating standard material quantity/cost for/of actual output
  3. Recalculating standard material quantity/cost/output for/of actual input
  4. Revising Material Standards
  5. Material Variances - Overview
  6. Material Cost Variance
  7. Material Price Variance
  8. Material Quantity/Usage Variance
  9. Material Mix Variance
  10. Material Yield/Sub-Usage Variance
  11. Material Yield/Sub-Usage Variance when there are losses
  12. Material Variances - Formulae Review & Illustration
  13. Material Variances - Opening/Closing stocks of Materials
  14. Calculating material variances - other methods
  15. Material Variances - Reconciliation Statements
  16. Material Variances - Cost Accounting treatment
  17. Material Variances - Accounting - Recording Journal Entries

Labour/Labor Variances

  1. Standard/actual/budgeted labour/labor input/output/time/rate/cost
  2. Recalculating standard Labour/Labor Input/Output/Time/Cost for Actual Output
  3. Recalculating standard Labour/Labor Input/Output/Time/Cost for actual Input
  4. Revising labour/labor standards
  5. Labour/Labor Variances - Overview
  6. Labour/Labor Cost Variance
  7. Labour/Labor Rate of Pay Variance
  8. Labour/Labor Usage/Gross-Efficiency Variance
  9. Labour/Labor Idle Time Variance
  10. Labour/Labor Efficiency Variance
  11. Labour/Labor Mix/Gang-Composition Variance
  12. Labour/Labor Yield/Sub-Efficiency Variance
  13. Labour/Labor Variances - Formulae Review and Illustration
  14. Calculating Labour/Labor Variances - other methods
  15. Labour/Labor Variances - Reconciliation Statements
  16. Labour/Labor Variances - Cost Accounting treatment
  17. Labour/Labor Variances - Accounting - Recording Journal Entries

Overhead Variances

  1. Overheads - Direct, Indirect Expenses
  2. Overhead Classification - Functional (Factory, Administration, Selling, Distribution) and Behavioural (Variable, Fixed, Semi-Variable)
  3. Overheads - Budgeted, Actual/Incurred, Budgeted Rates
  4. Standard Ouput/Input/Periods for Actual Output/Input/Periods
  5. Overhead Absorption - Pre Determined Rates of Absorption
  6. Overhead Variances - Overview
  7. Total Overhead Cost Variance
  8. Variable Overhead Cost Variance
  9. Variable Overhead Absorption Variance
  10. Variable Overhead Efficiency Variance
  11. Variable Overhead Expenditure Variance
  12. Fixed Overhead Cost Variance
  13. Fixed Overhead Expenditure Variance
  14. Fixed Overhead Volume Variance
  15. Fixed Overhead Absorption Variance
  16. Fixed Overhead Calendar Variance
  17. Fixed Overhead Capacity Variance
  18. Fixed Overhead Efficiency Variance
  19. Overhead Variances - Reconciliation Statement