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I study for every exam the same way. I do it all in my own time after work, and weekends with online lectures.
6 weeks in total. First two weeks: lectures/material + first run of questions (make sure to do questions at the end of every chapter to consolidate what you’ve just read/watched). Next two weeks is going back over lectures/material, making notes and doing the questions again. Final 2 weeks is just past papers.@anano said:
I agree, I thought, accountant-related part was key part in question. I think revised budget means adjusted budget. Accountant was responsible to set new price and new quantity of material. Budget would be prepared with old standarts, because new standarts weren’t updated.
But everyone here has solved Q31 with planning and operational variances, so maybe I’m wrong.I saw this info as basically telling you, that you must use the original standard cost to calculate variances, and not the revised cost. I think this was put in, because with the recent examiner change since Sept16, they prefer you to use the original standard and not the revised standard when calculating variances. I could be wrong, but that’s how I understood the final paragraph
For q31 operational labour efficiency variance, I working out the total hours available (160hours p/mth x24 (no. of employees) x60 (minutes in an hour) = 230,400 minutes. So on that basis, 24000 units actually took 9.6 minutes per unit, giving a favourable variance of $1,920. Any one else do the same here?