Variances - Again, sorry!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Does anyone have anything at all which will help me remember these?<BR><BR>I'm actually not too far off cracking them as I can manage direct costs, total overhead variances, o/h expenditure, almost there with volume (a bit hit and miss) and capacity. Shaky on efficiency and volume and although I think I should manage it before the exams am really worried that once I get sat down and have the usual sensation of my mind going blank that there will be no recovery. It will only take one part of a formula to be in the wrong place and I've blown it.<BR><BR>Understand that Total must equal expenditure and volume and that Volume must equal efficiency and capacity so shoud be able to work out any errors but would rather get it right first time than start to panic and undermine my confidence.<BR><BR>Any tips at all would be gratefully received. <BR><BR>

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    I've sent you a couple of emails with some ideas, I hope they are of some use.<BR><BR>Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Thanks Annette - that looks brilliant. <BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Dear Annette<BR>Sorry to jump on the band wagon , yet again :-)<BR>But could you please send these to me as well?<BR>My e-mail is sharon@sgillett.plus.com<BR><BR>Thanks again!<BR><BR>Sharon
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Hi Annette,<BR>Please could you send it to me as well. I know the formulas but still somehow i manage to get them wrong! So im trying to collect evry possible ideas to be confident b4 the xams.This first section is worrying me a L o t. dropaline2005@yahoo.co.uk<BR>Many thanks.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Hi Anette<BR><BR>Could you send them to me as well<BR><BR>hussainalasfoor77@gawab.com<BR><BR>thanks in advance
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    can i get a copy also, nosaj@anbell.net
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Sorry but could i have a copy aswell please. <BR><BR>jonb@williamking.co.uk
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    My tutor has taught us a really helpful way of remembering them:<BR><BR>When looking at direct cost variances, just remember:<BR><BR>S - Standard<BR>A - Actual<BR>D - Difference<BR><BR>If the numbers get higher when you go down, variance is adverse, if ther get lower, is favourable<BR><BR>When Looking at fixed overheads, The way to remember how to calculate Expenditure is:<BR><BR>B - Budget<BR>A - Actual<BR>D - Difference = again, if numbers get higher, is adverse variance.<BR><BR>Working out the volume/efficiency/capacity:<BR><BR>St - Standard ] ] = efficiency<BR>A - Actual =volume ] ] = capacity<BR>B - Budget ] ]<BR><BR>and therefore the efficiency and capacity makes up the volume variance.<BR><BR>Hope that all makes sense and helps! <BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    have just realised that the volume variance markers haven't come out how i typed them, so won't actually make any sense to anyone now....sorry!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Thank you very much Annette.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Can I get on the band wagon too? Please can you send me the details on variances too! I am having problems with the volume variance and efficiency variance. My email address is accounts@torchcomputers.co.uk I would be really grateful.<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Variances - Again, sorry!

    Hi Annette,<BR><BR>Can I also have a copy please!! <BR><BR>corrine_wellington@yahoo.co.uk<BR><BR>Thanking you in advance!!

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