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- Managerial Accounting Solutions Ch3
- Cost estimation
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- Chap006
- Cost Accounting (Records) Rules
- Business Plan
- basic cost concepts
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- Chapter 20 PPT.ppt
- Cost Accounting
- CO Prod Costing Part 2
- mca-mgt_3780.pdf
- Standard Costing Ppt
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- Managerial Accounting Assignment
- 275_resource_10_June_2007
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- budgeting and control
- Chilly Powder
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Cost Variances

Efficiency Expenditure

Yield

Expenditure Volume

Material Variances:

= Actual Qty. (Standard Price - Actual Price)

= Standard Price (Standard Qty. - Actual Qty.)

4. Material Mix Variance = Actual Qty. (Std. Price of Std. Mix - Std. Price of Actual Mix

= (Actual Qty. x Std. Price of Std. Mix) - Standard Cost of Actual Qty.

5. Material Sub-Usage Variance = Std. Price of Std. Mix (Total Std. Qty. - Total Actual Qty.)

= Standard Cost - (Actual Qty. x Std. Price of Std. Mix)

6. Material Yield Variance = Std. Price of Yield (Actual Yield - Standard Yield)

i.e. Std. Cost per unit of O/P

= Standard Cost - (Std. Price of Yield x Standard Yield)

Standard Price of Standard Mix = Total Std. Cost/ Total Std. Qty.

Standard Price of Actual Mix = Std. Cost of Actual Qty. / Total Actual Qty.

Labour Variances:

= Actual Hrs. (Standard Rate - Actual Rate)

= Standard Rate (Standard Hrs. - Actual Hrs.)

4. Labour Gang Variance = Actual Hrs. (Std. Rate of Std. Gang - Std. Rate of Actual Gang)

= (Actual Hrs. x Std. Rate of Std. Gang) - Standard Cost of Actual Time

5. Labour Sub-Efficiency Variance = Std. Rate of Std. Gang (Total Std. Hrs. - Total Actual Hrs.)

= Standard Cost - (Actual Hrs. x Std. Rate of Std. Gang)

= Standard Rate (Actual Hrs. Worked - Actual Hrs. Paid)

Standard Rate of Standard Gang = Total Std. Cost/ Total Std. Gang Hrs.

Standard Rate of Actual Gang = Std. Cost of Actual Hrs. / Total Actual Gang Hrs.

Variable Overhead Variances:

= Budgeted Variable Overheads - Actual Variable O/hs

for actual hrs.

= Actual Hrs. (Std. Rate - Actual Rate)

= Std. Variable O/h Rate Std. Hrs. for Actual - Actual

Output Hrs.

for Budgeted Hrs. Actual Hrs.

1. Total Fixed Overhead Variance = Fixed Overheads Absorbed - Actual Fixed Overheads

3. Fixed Overhead Volume Variance = Std. Fixed O/h Absorption Actual Hrs. - Budgeted)

Rate/ Hr./unit worked Hrs.

(units) (units)

= Fixed O/hs Absorbed - Budgeted Fixed O/hs

4. Capacity Variance = Std. Fixed O/h Absorption Actual Hrs. - Budgeted Hrs.

Rate/ Hr. Capacity Capacity

5. Efficiency Variance = Std. Absorption Rate (Std. Hrs. Required - Actual Hrs.)

6. Calander Variance = Std. Absorption Rate (Budgeted Hrs. in Actual Period – Budgeted Hrs.)

Sales Variances

Variance Variance Price Variance Volume Variance

Mix Variance Quantity Variance

2. Sales Price Variance = Actual Sales - Standard Sales (for Actual Qty.)

= Actual Qty. (Actual Price - Budgeted Price)

= Budgeted Price (Actual Qty. - Budgeted Qty.)

4. Sales Mix Variance = Actual Qty. (Budgeted Price per - Budgeted Price per)

Unit of Actual Mix unit of budgeted mix

5. Sales Quantity Variance = Budgeted Price per unit (Actual Qty. - Budgeted Qty.)

of Budgeted Mix

7. Sales Margin Price Variance (SMPV) = Actual Qty. (Actual Margin - Budgeted Margin)

Per Unit Per Unit

8. Sales Margin Volume Variance (SMVV) = Budgeted Margin (Actual Units - Budgeted Units)

(Profit) Per Unit

9. Sales Margin Quantity Variance (SMQV) = Budgeted Margin (Total Actual - Total Budgeted)

per unit of Qty. Qty.

Budgeted Mix

10. Sales Margin Mix Variance (SMMV) = Total Actual Qty. Budgeted Margin - Budgeted Margin

Sold per unit of per unit of

Actual Mix Budgeted Mix

Budgeted Price per unit of Budgeted Mix = Total Budgeted Sales / Total Budgeted Qty.

Budgeted Price per unit of Actual Mix = Budgeted Sales for Actual Qty. / Total Actual Qty.

Budgeted Margin per unit of Budgeted Mix = Total Budgeted Margin/ Total Budgeted Qty.

Budgeted Margin per unit of Actual Mix = Budgeted Margin for Actual Qty./ Total Actual Qty.

Market Size & Market Share Variances

Market Sales Volume - Sales Volume x Avg. Contb.

Share (%) (Units) (Units) Margin/ unit

Market share - Market share x Sales Volume x Avg. Contb.

Share (%) Share (%) (Units) Margin/ unit

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