Variance Analysis I

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Overview

3.5 Credits
ONLINE

This CPE course explores standard costing and variance analysis. It examines sales variances, including sales price variance, and sales volume variance. The course includes direct material cost variances, which shows the total difference in the amount spent on materials, which can be split into two further components, the materials price variance, and the materials usage variance. It also includes, the direct labor total cost variance, which shows the impact of an overall change in the amount spent on labor.

Objectives

  • Calculate variances for materials, labor, overhead, and sales
  • Determine operating results based on standard costing methods, including the reconciliation of budgeted and actual profit margins

Major Topics

  • Standard costing and variance analysis
  • Sales variances
  • Direct material cost variances
  • Direct labor cost variances
  • Variable overhead variances
  • Fixed production overhead cost variances
  • Operating statement
  • Variance analysis using ABC costing

Designed For

Management accountants wanting to develop skills in financial performance management CGMA exam candidates
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