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Forums › Ask CIMA Tutor Forums › Ask CIMA P1 Tutor Forums › ostandard costing
in a ques there is given a statutory holiday so sir the original budget should be revised taking that holiday into account nd in such A case there will be no calender variance…sir is this treatment correct???plz reply
Hi – im afraid I don’t quite understand your question.
Are you referring to an example in the notes or lecture? Can you let me know some more information – some numbers perhaps with the answer and I can talk you through from there.
Kind Regards
cath
Hii actually I was solving problem where STD proud of year was 120000 units and oh exo were as follows :
Fixed :12000 variable :6000 semi variable : 1800
Actual production during April of year was 8000 units .each month having 20 working days .
During month in question there was one statutory holiday .actual oh
Fixed 1190. Variable 480 semi variable 192
Semi variable include 40% variable nd 60% fixed
Calculate oh cost variance , fo nd vo cost variance ,fo vol ,fo exp nd calender variance
What I did was that I calculated the STD based on assumption that vo will have been incurred during 19 days of that month only .nd I proportionately based my STD on that 19 days of month assuming that exp would have been allocated per month assuming 19 days in April.i assumed that there would not be any calender variance. Am I correct ??
What are your answers for the above problem solution?! Thank u
I agree – it would be worked out per unit and pro-rata that way – no calendar variance.
I may be wrong but I don’t believe CIMA P1 syllabus includes calendar variances.so you wont see a question like this.
Kind Regards
Sir I am a ca student so doing costing from here as well …
Im afraid Im only able to answer questions within the scope of CIMA syllabus -im sure there are many crossovers and similarities – but I can only comment on CIMA P1 with certainty,.
Kind Regards
Cath