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In my Kaplan book regarding Mix variance it only shows the 1st way of calculating this i.e. the difference in the No. of units x standard price – however in the answer to part 5 a (ii) they show you an alternative answer taking into account budgeted weighted average cost to calculate it. The question is could they specifically ask you to calculate it this way or was this part of an older syllabus – I’m jsut surprised it’s not in my book……
Many Thanks
There are many ways of showing the workings – you will not be asked to do it any specific way. They all give the same answer, and even if you make an arithmetic mistake, the markers will know whether or not you are approaching it correctly (and if you are then they will give you most of the marks even if you final answer is wrong).
(The way that I do it in the lectures on here is different again – I think that my way is easier to remember and is safer. But it doesn’t matter – there is only one final answer.)The same applied to the whole of F5 – there are many areas where you can show the workings in different ways. The examiner is checking that you understand what you are doing – they are not checking whether you have done it any special way.
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