1. avatar says

    Thanks John,

    in the exam, do we have to write each variance calculation formula first, such as: sales rpice variance= (actual price-standard price) x actual volume? Can we just use the numbers to calculate without writing the formula, any marks are allocated to those formulae?

    • Avatar of johnmoffat says

      There are no marks specifically allocated to writing down the formulae.

      However it is worth showing a bit of workings because if you make a silly mistake and therefore get the wrong answer, you will still get some marks if it is clear what you are trying to do. If you just write down the answer with no workings at all, and it is wrong, then you get zero (even though it could just be a silly arithmetic mistake).

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