Costing system ruby dale
nicole1990
Registered Posts: 11
Hi guys trying to think about everything I can to do with ruby dale . Just trying to think of it’s costing system . I know standard would not work given that they have a variety of products and made to order
Can anyone shed some light on what you think would be suitable and why ?
Many thanks
Can anyone shed some light on what you think would be suitable and why ?
Many thanks
0
Comments
-
Hello,
I was told by my tutor to always suggest a standard costing system.
Give a definition of what a standard costing system is, how it works and how to apply it to the business.
Then structure a standard costing system to the question asked.
I put in my synoptic exam the below:
Standard Costing System
A standard costing system is the preperation and use of standard costs, their comparison with actual costs, and the analysis of variances to their causes.
Main purpose of a standard costing system are:
- Compares what costs should be and what costs actually are
- Compares budgeted costs VS actual costs
- Shows adverse variances + favourable variances (set a threshold and investigate any variances over the threshold)
- Work out a standard cost for each product then compare to selling price and work out profit.
- Set a standard cost for any new products and compare selling prices to see profit made.
I was asked about costing systems in the budgeting question, put the above and passed with 77%.
Thank you5 -
what did u get in question 4? or was the style of questions was similar to that of rawhide ?0
-
I personally felt Rubydale Ltd exam was easier than Rawhide
0 -
@Emmalouise18 thank you so much1
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 259 NEW! Qualifications 2022
- 146 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 37 AAT Level 3 Diploma in Accounting
- 64 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 137 Bookkeeping
- 7.3K General accounting discussion
- 193 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership