Standard Costing - Student Edition

What you'll learn
Standard costing
Requirements
Be able to prepare a budget
Description
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 profitVideo 6 - Tutorial questions. In this session I will teach you how to read a question and how to answer a Standard costing question.
Overview
Section 1: Standard costing overview
Lecture 1 Standard costing overview
Section 2: Material variances
Lecture 2 Material variance analysis
Section 3: Labour and Variable cost variances
Lecture 3 Labour and variable cost variance analysis and journal entries.
Section 4: Fixed cost variances
Lecture 4 Fixed cost variances
Section 5: Sales variances
Lecture 5 Sales Variances
Section 6: Tutorial Questions
Lecture 6 Tutorial Questions
Under-graduate as well as post-graduate students


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