Standard Costing - Student edition

Standard Costing - Student edition

This course comprises 4 1/2 hours of teaching on Standard cost variances, the reconciliation of statements and ledger accounts.

There are 6 videos in total of approximately 45 minutes each.

Video 1    -  Standard costing overview.  This video will teach you the fundamentals of Standard costing in a logical manner that will give you understanding and context to the subject.

Video 2   -  Material variances.  Here you will learn how to calculate all the relevant material variances and how to reconcile Budget cost to Actual cost.

Video 3   -   Labour and Variable cost variances. As per Material - variances plus reconciliation.

Video 4   -   Fixed cost variances. You will learn the difference between variable and absorption costing systems, the variances for each one and the reconciliation of Budget to Actual.

Video 5   -  Sales variances are analysed by value and by profit plus the reconciliation of Budget profit to Standard profit to Actual profit

Video 6   -   Tutorial questions. In this session I will teach you how to read a question and how to answer a Standard costing question.

Variance analysis and reconciliation statements

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What you will learn

• Standard costing

Rating: 4.75

Level: All Levels

Duration: 4.5 hours

Instructor: Professor Francisco Vigario