PEV- Variances

lucy1988

HI,

Does anyone know an easy way to remember the different Variances?

Thanks

dobbieobby

If they did they'd be a millionaire....

taskey

practise, practise, practise

princess

Capacity - cows are beefy
Capacity = actual by budgeted

Volume - vera eats stale bread
Volume = standard by budgeted

Efficiency - elephants squash ants
Efficiency = standard by actual

This might help!

lucy1988

Thanks

mark130273

princess wrote: »

Capacity - cows are beefy
Capacity = actual by budgeted

Volume - vera eats stale bread
Volume = standard by budgeted

Efficiency - elephants squash ants
Efficiency = standard by actual

This might help!

think its even harder to remeber those quotes???

Sonny_L

I think the best way is to study the text that accompanies the formulai in your book until you fully understand the point of them. Which probably won't take any longer than drilling it into your memory parrot style.

Also you will be asked to explain variances in the exam.

Never seen a good acronym for these ones.

Diannew

Sonny_L wrote: »

I think the best way is to study the text that accompanies the formulai in your book until you fully understand the point of them. Which probably won't take any longer than drilling it into your memory parrot style.

Also you will be asked to explain variances in the exam.

Never seen a good acronym for these ones.

This is good advice...you do need to understand what affect the variances have on the business.....because you do need to explain this in the exams.


I found the diagrams of this section in the Osbourne books very good and constantly revised the diagram and the meanings of the different variances...it's the only way.


Good Luck

Di