Standard Costs and Variance Analysis
Standard costs are commonly used in many accounting applications. In the Standard Costs and Variance Analysis course, we address the situations in which standard costing can be used, its advantages and disadvantages, and how to create a standard cost. We also cover the various types of variances that can be derived from standard costs, including materials, labor, and overhead variances. Finally, we address which variances should be reported, and how to report them to management.
Format
PDF Course
Level
Overview
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: AC1162
Learning Objectives
- Identify the circumstances under which standard costs can be used.
- Specify the different variances applicable to standard costing.
- Identify the calculations for each type of standard cost variance.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: October 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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