ACCOUNTING YEAR 13

LESSON GUIDE
standard Costing
JANUARY 2024
T
Accounting year 13, Lesson guide.
Topic Standard Costing and Variances
Week 14; lesson 2
Subtopic ;Variance
• Class activity [30 minutes]
From the notes provided write in
details in how, the ratio can helps
the management to control and
evaluating the performance of the
business.
..\Downloads\Standard Costing U
NIT V.docx
Learning Objectives
• You should be capable of
performing the following.
a.Define the variances.
b.Write the formula used to
calculate the variances.
c.Describe the different variances.
d.Analysed the variances
 Accounting year 13, Lesson guide.
Topic ;Standard Costing and Variances
Week 14; lesson 2

Subtopic ;Variances
Learning Objectives;
• Class activity 30 minutes;
• Learning objectives;
• From the given question
calculate material cost • At the end you
variances. budgeted actual
should be ;
materials (kg per unit) 24 26 • Write the formula.
materials (price per kg) $12 $16 • Calculate the
labour (hours per unit) 8 6 material cost
variances.
labour (rate per hour) $25 $22