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PM Chapter 13 Questions Standard Costing and Basic Variance Analysis

VIVA

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Comments

  1. Gitau says

    February 13, 2024 at 12:22 am

    surprisingly got 100%, thought i’d get the last one wrong , very tricky.

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  2. baraka42 says

    February 5, 2023 at 4:59 pm

    Hello Sir, Question 1 has throw me off a bit.
    AqAp =204750
    AqSp = 210000
    5250

    Where I am confused is that, what we spent is under what we budgeted for. So I do not understand why it is a favourable variance instead of Adverse.

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    • baraka42 says

      February 5, 2023 at 5:01 pm

      Sorry I meant why it is an adverse instead of it being a favourable variance

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    • John Moffat says

      February 6, 2023 at 7:59 am

      The question as asking about sales variances – it has nothing to do with spending.

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  3. baraka42 says

    February 5, 2023 at 4:57 pm

    Hello Sir, Question 1 has throw me off a bit.
    AqAp =204750
    AqSp

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  4. CrisAchim says

    November 17, 2022 at 3:30 pm

    No 5 tricky indeed!
    Picked 62,500 without deducting the variance.

    Thanks

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  5. kvz911 says

    September 21, 2022 at 7:11 pm

    Amazing Test Sir ! I Got 100%. No 5 was tricky though. 馃檪

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    • John Moffat says

      September 22, 2022 at 8:39 am

      Great 馃檪

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  6. tanyan says

    September 4, 2022 at 7:27 pm

    Thank You John, your lectures are indeed fruitful

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    • John Moffat says

      September 5, 2022 at 9:19 am

      Thank you for your comment

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  7. IgorKh says

    June 8, 2020 at 9:37 pm

    Hello,

    Could you correct my logic for #5:
    Actual fix.o/h = 0.98 Bud.fix o/h, => Bud.fix o/h = 1.02 Actual fix.o/h
    So equation is: Actual fix.o/h – 1.02 Actual fix.o/h = 1250 ( suppose here should be minus 1250, because it’s adverse var., am I right?)
    Finally we get: Actual fix.o/h = 1250 / 0.02 = 62.5 k (eliminated minuses). Budgeted fix. o/h would be = 62.5 k + 1250.

    Thank you.

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    • John Moffat says

      June 9, 2020 at 9:48 am

      Your first line is wrong. Budgeted fixed overheads = actual fixed overheads / 0.98 = 1.020409 x actual fixed overheads.

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      • IgorKh says

        June 9, 2020 at 10:09 am

        Could you share correct one.

        Thank you,
        Igor

  8. rokhan says

    May 5, 2020 at 6:08 am

    Dear John, in marginal costing there is no fixed overhead , how fixed overhead variance arises in marginal costing,thank you.

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    • John Moffat says

      May 5, 2020 at 9:05 am

      Of course there are fixed overheads!!! 馃檪

      They are not absorbed into the unit cost, but they exist and reduce the profit. If the actual fixed overheads are different from the budget figure then the profit will be different and there is a variance (but only an expenditure variance, there is no volume variance).

      I do suggest that you watch my free lectures on this where I explain!

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