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Hi
Is there a simple table of all the variance formulas anywhere? I know there are worked examples in the back of the chapter 22. The problem, I’m having is that I can perfectly understand and remember them from open tuition lectures, but when I look at some of the Kaplan questions I become totally confused because of the very poor explanations that are given for some of their workings.
For example, they have a question in their text relating to the materiel usage and price variances, however, it’s dependent on the knowing the actual production value, which they simply put in bold within the working and give zero explanation about where this value came from. I’m finding that the Kaplan text on this topic is almost undermining the clear understanding I got from open tuition lectures.
I have no table.
Why do you not prepare your own? Writing down the ‘formula’ is the best way of all of learning them 🙂
Yes, I’ve written down most and remember the majority now. I find when you have to work backwards i.e getting the actual rate of pay or actual amount produced, a bit more tricky than a simple question and how to get a variance. I suppose it’s an area where you must simply learn the rules verbatim, where as. mostly elsewhere the the logic of what you’re doing is very evident.
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