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Question regarding operating statement in standard costing.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Question regarding operating statement in standard costing.

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • May 9, 2021 at 12:22 pm #620142
    safwanstark99
    Member
    • Topics: 10
    • Replies: 6
    • ☆

    How is budgeted profit minus sales variances equals actual sales minus standard cost of sales? i just cannot connect the dots.

    From: Page 312, Further variance analysis, Management accounting study text BPP learning media 2010

    May 9, 2021 at 3:58 pm #620157
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51585
    • ☆☆☆☆☆

    I do not have the BPP Study Text, only the Revision Kit.

    The total of all the variances (sales and expense variances) explains the difference between the actual profit and the budget profit.

    If the expenses were all at standard cost then there would be no expense variances and instead of ending up the the actual profit we would end up with the actual sales revenue less the standard cost of the sales.

    This would be a very strange question to ever appear in the exam 🙂

    Have you watched my free lectures on variance analysis? The lectures are a complete free course for Paper MA and cover everything needed to pass the exam well. If you are watching the lectures then you do not really need the Study Text – the essential book however you choose to study is the Revision Kit because it is full of exam standard questions for practice 🙂

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