Cambridge AS & A Level Accounting
2.1.1Materials and labour
Materials and labour in Cambridge AS & A Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic87 practice questions4 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 2.1.1.1Account for material and labour costs and identify and calculate direct and indirect costs.
- 2.1.1.2Identify and calculate fixed, variable, semi-variable and stepped costs.
- 2.1.1.3Calculate the value of closing inventory by FIFO and weighted average cost (AVCO), perpetual and periodic, and explain the principles of just in time (JIT).
Lessons
- Full access
Accounting for materials and labour; just in time
55 min
- Full access
Cost behaviour: fixed, variable, semi-variable and stepped costs
50 min
- Full access
Cost terminology and the purposes of cost accounting
45 min
- Full access
Inventory valuation: IAS 2, FIFO and AVCO
50 min
Join to read every lesson, or see what Full access includes.
Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
Turn Materials and labour into a strength.
Practise with instant marking, see your mastery grow and get a study plan built around your exam date.