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is this deleted for june 2014 exam
i am really confused
Calculate, identify the cause of and interpret
basic variances: [1]i) Sales price and volume
ii) Materials total, price and usage
iii) Labour total, rate and efficiency
iv) Variable overhead total, expenditure and
efficiency
v) Fixed overhead total, expenditure and, where
appropriate, volume, capacity and efficiency.
so shall i know the rules of the variances or not
and preparation of operating statementsNo – it is not deleted. It is assumed knowledge from Paper F2.
The examiner has made it clear that they can be asked as part of a question. The syllabus for June 2014 is the same as for the last two exams and basic variances were examined in both.
In addition, it is impossible to understand planning & operational variances without an understanding of basic variances.
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