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Standard Costing: Application (Cost Var: (Materials: P = (SP-AP) x AQ V =…
Standard Costing:
Application
Cost Var:
Materials:
P
= (SP-AP) x AQ
V
= (SFQ-AQ) xSP
Labour:
R
= (SR-AR) x AH
E
= (SFH-AH) x SR
VOH:
Exp:
(SR-AR) x AH
Eff:
= (SFH-AH) x SR
FOH:
Exp:
= BE-AE
Eff:
= (SFH-AH) x SR
Cap:
= (AH-BH) x SR
Income Var:
P:
= (SP-AP) x AQ
V:
= (SQ-AQ) x SP/Std Profit/ Std Cont
Recon:
Starting point > Sales Vol > Sales Price Var > All cost variances
For recon Cont - Profit subtract AFOH because cont doesn't account for them
Mix & Yield:
Mix:
(AQ x AR) v (SQ x AR)
Yield:
(SQ x AR) v (SQ x SR)
Take variances multiply by standard cost / income
Reasons for var:
Material:
P:
a)Pdept Eff b)Mkt cond c)Inf/Sup qual d)Shortage/Over supply
Q:
a)Neg b)Inf/Sup qual c)Theft
Labour:
P:
a)Neg LUs b)Unexp OT c) Inc use SL
Eff:
a)Inf/Sup qual b)Diff gr labour c)Mach failure d)Q cont
VOH:
Price changes or ineff
Accounts:
CC Mat:
P var
Raw Mat:
Vol Var
Labour:
R&Eff