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Paper 4 — Cost & Management Accounting ›
Chapter
Standard Costing & Variance Analysis
Setting standards and analysing variances — material, labour, overhead and sales variances; reconciliation of standard with actual profit. Expect 12–14 marks per attempt.
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6 microlessons in this chapter
Read each in 5 minutes. Each has worked examples + the bare Act text for reference.
All lessons
1
Setting Up of Standards — Types of Standards
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2
Material Cost Variances (Price, Usage, Mix, Yield)
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3
Labour Cost Variances (Rate, Efficiency, Mix, Yield)
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4
Overhead Variances (Variable & Fixed)
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5
Sales Variances (Price, Volume, Mix, Quantity)
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6
Reconciliation of Standard Profit with Actual Profit
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