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# PEV- Variances

Feels At HomeRegistered Posts: 74
HI,

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

Thanks

• Well-Known Registered Posts: 231
If they did they'd be a millionaire....
• Font Of All Knowledge Registered Posts: 1,800
practise, practise, practise
• Feels At Home Registered Posts: 80
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!
• Feels At Home Registered Posts: 74
Thanks
• Font Of All Knowledge Registered Posts: 4,234
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???
• Well-Known Registered Posts: 201
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.
• Font Of All Knowledge Registered Posts: 2,814
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