Costing - MVC

[Charlie]

<BR>Hi<BR><BR>I am sitting my last exam in June. Sadly it is MVC and I hate costing. After passing PAR and DFL in December I really don't want to mess this one up! Has anyone got any advice or has any idea what will be in the paper? Also any advice on how to remember and understand overhead variances would be gladly received!!<BR><BR>Thanks

[SandyHood]

Charlie<BR>Would a day revision course be of any interest to you?<BR>I plan to run just such a revision session at the end of May (either on a weekday - half-term or on a Saturday). <BR>sandy.hood@chichester.ac.uk

[ancsiga]

Hi,<BR><BR>I will take my exam too in June, but I like costing more than DF so hopefully I can help a bit.<BR>About fixed o-head variances: <BR>Firstly: calculate absorption rate e.g. £/hour<BR>Fixed o.head variances: means difference between Incurred and recovered amount. (incurred given by question,<BR>recovered: actual units Xrecovery rateX e.g. budgeted hour<BR><BR>F.o. expenditure: Easy! difference between budgeted and incurred expenses (usually both given by the question)<BR>F. o. volume var.: difference between budgeted and recovered (budgeted amount given, actually recovered calculated at f.o. variances)<BR>At these three variances, really were are using only 3 different numbers just in different order.<BR><BR>F.o. capacity:shows really how much is the difference between hours worked and planned to work, the difference in hours so X recovery rate gives you<BR>the £ amount (eg. budgeted hrs 100, actually worked 60 hrs)--we have 40 hrs adverse variance times rec. rate gives you £ value<BR><BR><BR>F.o. efficiency v.: shows the difference between hours spent to make the units and planned hours for the made units. Again hrs to be converted into £<BR><BR>Let me know if this made it clearer, or even more confused. I wish my DF exam was over!<BR><BR>Aniko<BR>

[abdullah]

Can anyone advise me on good textbooks on cost/management accounting besides Colin Drury's?