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. Continue reading “OH Variance Analysis – Two Variance & Three Variance Method” →
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 by the business. Danger level means that if the stock falls below this level, business might be suffering stock out costs i.e. stoppage in production, delayed delivery to client and loss of goodwill etc.
Solving questions on this topic is quite easy if you know the formulas. You will have to remember all these formulas.
I am giving you a good tip which will ease the process of remembering these formulas. If you haven’t already noticed, Continue reading “Invertory/Stock Levels” →
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
Continue reading “Overhead variance analysis|Fixed and Variable” →
First of all, thanks to God that I am able to present this lecture.
It took long time for me to upload this tutorial. But now, my new lecture is available for download.
With that said, In current lecture I have explained the features of relevant costing. Download link is given below.
Download Link Click here
In this video lecture you would learn how to draw store ledger card in an easy to understand way.
I am waiting for your comments and replies
Continue reading “Store Ledger Card (Lifo Method) Urdu/HIndi” →
A Basic Question on Material and Labour Variances.
Downloadable. (zip formate)
Lenght: 13 minutes approximately.
If you Find any difficulty in downloading it Click Here to contact us.
Ask questions, or give feedback after watching it
Title: Basic Entries, Rules of Debit and Credit (Financial Accounting)
Type: Mixed (Fill in the Blanks & Multiple Choices)
Number of questions: 13 (version 1.3)
Passing Percentage: 80%
Time limit: No (Unlimited) Continue reading “Practice Questions: Rules of Debit and Credit & Basic Entries” →
This is the First and very basic question on Variance Analysis
Try this. Answer to this has been published Now. Continue reading “Variance Analysis Practice Question” →