There are about 10 MCQs on the topic of material.
Q:- One of the following documents is used for issuing materials to production departments.
A: Purchase Requisition Note
B: Stores Requisition Note
C: Goods Received Note
D: Stores Credit Note
Now attempt the following question. Click on the following video. It takes some time to load. After it is fully [...]
Download the file and attempt the question on the topic “Labour Cost” of cost accounting. Currently there are 10 Questions. You need to have adobe reader 9 or higher to access the file.
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Download the Mcqs on the topic of Process Costing. Please note that you will require Adobe Acrobat Reader 9 or higher to view the file.
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In this file, you will find 10 MCQs and True/Falls etc regarding cost accounting. All questions carry equal marks i.e 10. You need 80% to pass this test. This is very easy and for beginners.
This is the last lecture on Variance Analysis
In the four Variance method following variances are calculated
Idle Capacity Variance
Variable Efficiency Variance
Fixed Efficiency Variance.
There are couple of approaches for Overhead Variances. In one approach, variances for FIXED and VARIABLE overheads are calculated separately. (click here for explanation and formula of this approach)
Whereas in the second approach, which is the topic of this post, separate variances are not calculated.
What are stock Levels?
Every business has to maintain stocks of material/goods which are used during the production process. Following stock levels are self-explanatory. Like reorder level suggests that at what level we should re order the stock. Similarly maximum or minim stock levels suggest the maximum or minimum stocks to be maintained [...]
In this lecture you will find the formula for the Fixed and Variable Overhead Variances. for labour variances click here & for material variances click here
Fixed Overhead Variances include:
Fixed Overhead Expenditure Variance
Fixed Overhead Volume Variance