Cambridge AS & A Level Accounting
4.2.1Standard costing
Standard costing in Cambridge AS & A Level Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic109 practice questions5 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 4.2.1.1Explain a system of standard costing and its advantages and disadvantages and how it improves business performance.
- 4.2.1.2Calculate direct material price and usage, direct labour rate and efficiency, fixed overhead expenditure and volume (with capacity and efficiency sub-variances) and sales price and volume variances.
- 4.2.1.3Explain the possible causes of favourable and adverse variances and their relationships, and make decisions and recommendations, noting non-financial factors.
Lessons
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Analysing variances and reconciling standard to actual
55 min
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Direct material and direct labour variances
55 min
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Fixed overhead variances: expenditure, volume, capacity and efficiency
45 min
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Sales price and sales volume variances
45 min
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Standard costing: meaning, standards and uses
45 min
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Sample question
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