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Material price planning variance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Material price planning variance

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.
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  • February 10, 2020 at 1:46 pm #561268
    maxpopper
    Member
    • Topics: 177
    • Replies: 132
    • ☆☆☆

    Sir I have 1 confusion in Material price planning variance i.e

    Do we take it as actual qty consumed x (revised std price per kg – std price per kg)

    OR

    Do we take it as revised standard qty consumed x (revised std price per kg – std price per kg) ?

    Some times examiner use actual qty consumed and sometimes he use revised standard qty consumed. Can you please explain me?

    February 10, 2020 at 2:55 pm #561278
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    There are two ways of calculating planning and operational variances that give different answers.

    The previous examiner preferred one way and the current examiner prefers the other way (which is easier anyway), although she does accept answers doing it either of the two ways.

    The method I work through in my free lectures is the way that the current examiner prefers.

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