Variance Analysis - Part 2 of 3
HTML-код
- Опубликовано: 29 авг 2024
- The links to the problems are no longer working.
If you want updated videos (with working links) try this playlist:
• MA Module 1, Video 1, ...
In this series of videos we learn to compute:
a.) Direct materials price and quantity variances
b.) Direct labour rate and efficiency variances
c.) Variable overhead spending and efficiency variance
This video and the attached worksheet were prepared by Tony Bell of Thompson Rivers University (TRU) - I encourage educators to freely use, edit and modify these videos and the attached worksheet - they are available under Creative Commons Licenses.
God bless u Tony. You are my hero!
I am blown away by how much easier your method is to both understand and compute. You are boss!
Your videos are the best thing ever in my life. They are one of the reasons I will be graduating next year. God bless you.
This video explains this topic so much better than my accounting lecturer. Big thanks from the Netherlands!
James Van Eesteren Thanks!! It's so cool to hear from people around the world :)
I worked with standards for many years in manufacturing, but I faced explaining these to students who had never seen the inside of a factory! Your video was a tremendous help to me in presenting these concepts in a way my students could understand. Thanks!!!!!!
Drew Debrey Awesome - thanks for the comment Drew!!
Unlike my lecturer you manage to make management accounting bearable, keep up the good work!
Thanks! Keep watching, I think you may want upgrade your opinion from "bearable" to "adequate"~! Keep me posted ;)
Tony, you rock. I have watched most of your managerial accounting videos....they are not only informative but somehow you manage to make them entertaining with the humor you throw in sometimes. My course is over now so just wanted to say thank you.
Thanks Jared!!~! You made my night...
I can never follow my prof but watching your videos I get it immediately ! Thanks so much for taking the time to help us all out, it is truly appreciated.
vladimiraa Thanks!
Perfect!!! I can now answer three of five questions from my paper tomorrow instead of two. Thanks a Million!! You're the BEST!!!
Thanks! Hope your paper goes well.
life changing 😍 my books only explain the standard formulas to calculate the variances, but they're not quite logical. So you learn them by heart, without actually understanding them. Which makes it easy to make a mistake, if you don't remember the formula correctly. but this explanation actually makes sense. So helpful, thank you so much!!
I literally learnt this whole topic over a night! Immediately I get the paper, I draw the variance diagrams :')
Naveen Kumar Thank you :)
I could just cry right now! Thank you so much! The most helpful part of this video is when you say, Let's think about this logically here, and review what is being asked. My course room example was very different than yours bu,t I was able to walk through my work based on your explanation! You are Awesome! Sorry about all the exclamation marks but I am sincerely excited
Thank you very very much! Keep it on, among all, your videos are easy to understand and straight forward. By now, I believe that no one can explain the issues better then you. Wow!
Ezatullah Pezhand Thanks!!
Thank you from Australia, Tony.
Illuminati Thanks so much!
Thanks Tony I passed my 2nd test with an A, your videos really helped :-). Now preparing for my exams
Thanks for the comment!
i love it. Thanks. Using it to study for my CMA examination.
Standard price is the standard amount per quantity . Standard cost is the total cost per unit. Therefore standard cost per unit = Standard Quantity per unit X Standard Price per quantity (eg 1kg, 1hour, 1meter...). In essence maybe you make a chair, each chair takes 5kilograms of wood, 1kilogram of wood is $2, Your standard price would be $2 whilst your standard cost would be 5kg*$2=$10.
awesome video. a good example of how to explain complex things in a easy way !
really good video for studying managerial accounting. thanks.
Thanks so much for your wonderful videos :) helped me understand more than just reading my correspondence material! :)
Nicki Taylor Thank you :)
Wow! extremely easy explanations! You might not only teach students, but also you might teach "instructors like mine" how to teach their students? I greatly appreciate those helpful videos.
Sam Stevens Thanks!!
Thank you for your lectures. They are grea!
+Ильченко Светлана Thanks for your grea comment ;)
I think including a total here is debatable, and I certainly am not saying that your instructor is wrong, but I have seen it done both ways, and I do feel like I can get meaning out of it.
For example, I get a cheap price on some low quality materials from a new supplier. Price variance = Favourable. Quantity Variance = Unfavourable.
Should I stick with the new supplier? Knowing a total variance might be relevant (although looking at the two separate variances works too!)
Cheers!!
That's awesome news :) Good luck on the final!
Good call - your explanation is spot on - thanks for posting :)
That's awesome!
Thanks - good luck!
Thank you for such useful explanation Mr Bell, could you please further the topic by adding mixed.
thank you so much may God bless you ... u helped me alot :) have a wonderful life, with all the happiness in it :)
Great Video. You explain this so much better than my professor. Like seriously, you should take her job lol
Phillip Johnson Thank you :)
haha sounds very familiar, you wouldn't happen to be in Concordia university would you?
haha nope
An "A" - Great job!
Hello Tony, thank you for your help. I'm currently in a business statistics class and your lessons are extremely helpful. Could you please let me know how you got your ink tool? I don't have it on my MS word.
+Jarreau Foster I use a Wacom tablet and the software I like best is called "OneNote".
Love your videos, theyre really helpful.
my question is isnt the price variance suppose to be 3960
(12000 X 2.33) - (12000 X 2)
27960 - 24000
3960
Wow. I understood this concept!
Thank you sir! :D
nass4e Thank you !
thanks so much, but you havent explain about fixed overhead? please guide about fixed overhead variances
thank you so much :)
Hi Roza,
This video and the part 2 video are the only ones I have for Variance analysis at the moment. I've got no plans on expanding them for the next little while, but maybe in the future!
Thanks for watching and hope they help!
Do you go over the Journal Entries through the process and the Adjusting Journal Entries at the end of the fiscal year?
Chris Bowen Yep...google my name and journal entries or adjusting journal entries. You should find them.
Hi. would it be possible for you to do a video on how to solve Fixed Overhead Variances, such as the difference between standard costing and normal costing?
Hi Hafsa, I plan on doing one in the future, but it won't be for a while - sorry!!
thank you , Its really clear and easy with you . where is the next please???
Nindža kornjače
verry helpfull thank you
Hey Tony, Can you link me the videos that correspond to the Chapter 10 in the Managerial Accounting 9th Ed By Garrison. The title of the Chapter is "Standard Costs and Overhead Analysis". Thanks.
Hi Moe,
These are the best videos I've got on the topic - I know it's not comprehensive, but hopefully it's a start!
I'm from Ireland and I'm trying to do variance but the layout of the questions are very different, i get you layout well but when i attempt my questions i get stuck, any advice?
Hi Bazz, Generally speaking with a variance question it might be laid out differently, but the information presented should be similar, and if I were working on it, I'd be trying to get the data into the AQ*AP SQ*SP table presented in the video.
I try to do the AQ*AP etc table but i just dont seem able to complete it. Im struggling a lot with this at the moment, very difficult with 3 more exams as well as you can imagine. Thanks for your help anyway.
What kind of software and gadget you used to write on the screen?
Why the price is calculated by the formula AQ*AP, but not (SP-AP)*AQ?
So the calculation I do is (AQ*SP) - (AQ*AP ) which is just a different way of doing the same formula as you have. We should get the same answer.
Thank you!
thank you for you useful videos. I have a request from you. some of your videos are unclear and I cannot watch it.
Will examiners accept if students were to use these kind of workings?
It really depends who is marking, but I can't see why not. If you are getting the correct answers, this should be acceptable.