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PM Lecture Notes Chapter 14 Example 1
Sir,
While calculating the MATERIAL USAGE Planing & operational variance Why did we Use Std Cost of $5 instead of $4.85( revised)?? Shouldn’t the Std cost change to $4.85 cuz its revised & updated ????
There are two ways of calculating planning and operational variances, which give different answers. Both ways are acceptable in the exam.
One of the ways is as you describe, but the way I show in my free lectures is the way that the current examiner prefers (and is both easier and faster 🙂 )
Yes sir, I was just thinking about it & brainstorming ! I figured it out & u did mention there are 2 ways of doing it & both are acceptable with different values. I’m proud to figure out the second way ! :’) 🙂 Your lectures are amazing sir, thank you so much!! I’m very much clear about all the concepts. Now just left to apply the knowledge in the Scenario questions of Section C & OTQ’s of section A & B !! I’m sitting in December. Fingers crossed !! <3
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