Standard Costing | Variance Analysis | Cost Variances | ACCA | CMA | CPA | Commerce Specialist |

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This video from Commerce Specialist is about Standard Costing and Variances. Detailed Explanation is given regarding How to calculate Variances, How to Calculate Material Variances, How to Calculate Labor Variances, How to Calculate Variable Overhead Variances and How to Calculate Fixed Overhead Variances.
This tutorial/lecture video is very relevant and useful for students of B. Com, O Levels, A Levels, BBA, MBA, CA, ACCA, CMA, CIMA, CIA and CPA.
About:
Commerce Specialist is a Certified Management Accountant (CMA) from USA, is a Fellow of member of HEA UK, holds Certification in International Auditing from ACCA-UK, member of IFA UK and IPA Australia, also holds a Bachelors in Accounting, A teaching qualification of B.Ed., an MBA in Finance along with over 20 years’ experience of working in various MNCs in different sectors including Banking, NBFIs, Retail, Oil & Gas, Telecommunication, and top business schools, colleges and universities.
Viewers and students can contact me on [e-mail] or email me at [e-mail] or whatsapp me on [phone].
#standardcosting #costvariances #varianceanalysis

[@Ohiostmrchbandawesom]

Your audio is very clear. My headphones in this internet cafe are bad and people are loud, but I can still understand you. This is the third or fourth video I have tried and it is the first one I can follow easily. Thank you whoever is in charge of sound!

[@CommerceSpecialist]

I do all by myself dear, thx

[@Ohiostmrchbandawesom]

Your presentation is smooth and it seems like you're right there in the room with the viewer going through the problems step by step.

[@CommerceSpecialist]

Thx dear

[@AkshayKumar-dt2vg]

Thanks for teaching variable and fixed overhead standard.
Your presentation and examples are so good to understand
Once again thank you sir.

[@AhmedSaad-wq3be]

A great 45 mins given by you help me to complete the total variance chapter. Grateful to you sir. Thanks a lot.

[@CommerceSpecialist]

You are welcome Ahmed

[@hambalikanwa276]

I really understand the concept of variance analysis with your simple explanations. Thanks

[@CommerceSpecialist]

Ur welcome dear😊🙏

[@mmmunzir4849]

I understood very well. Thank you so much for your great work...

[@CommerceSpecialist]

@@mmmunzir4849 thanks a lot dear👍🙏

[@mukulchauhan19]

Thank you so much sir 🙏🏼..I cleared CMA through self study and I used your videos to clear doubts .I always like the way you teach..You are the best teacher

[@CommerceSpecialist]

Very happy to know about your success. You are always welcome dear🙏👍

[@OluwasegunOlamideOlaJesu]

Very clear and understandable, Thank you sir 🙏 From Nigeria 🇳🇬

[@vivekpankar]

Thank you so much sir. The way you explain is very simple and crisp. i am finding it very helpful for my CMA studies

[@CommerceSpecialist]

You are welcome dear. All the best for your CMA👍

[@lovejoysizalokuhlekhanye6071]

Thank you for the clarity

[@RogerNzally]

Thank you for the amazing work you put into explaining these variances.

[@CommerceSpecialist]

Thx Roger

[@prabhapkp]

Thankyou Sir, Your explanation was very helpful & clear.

[@CommerceSpecialist]

Thanks dear🙏👍

[@johnsonbaryeh]

Best tutorial ever❤

[@CommerceSpecialist]

Thx dear

[@nowshadamin5748]

Thanks Sir, I am a student of ICMAB and took preparation by watching your lecture. in before i didn't understand FPOH variance, now it's clear. Lots of Doa for you

[@CommerceSpecialist]

You are welcome dear, Im also an alumni of ICMAP😊

[@RoshanKumar-xg3ps]

The Best variance explanation i ever watch... You are great sir, I watch all your conceptual videos and i understands in first time. Thanku so much sir for you efforts..

[@CommerceSpecialist]

Ur welcome my dear😊👍🙏

[@mohammedansar2840]

Your way of teaching is top notch, and kudos for being selfless. Would greatly appreciate if you could make a playlist based on the course in order to easily find the desired video.

[@CommerceSpecialist]

Sure dear

[@ammadhabib7099]

Great video sir . U explained it really nicely. Kindly make more Acca videos

[@CommerceSpecialist]

Sure Dear

[@davidverweij1234]

You made this so easy!!! Thank you!

[@accountingtaxation426]

Sir you are the greatest teacher❤

[@CommerceSpecialist]

Thx my dear🙏👍

[@natanyamckenzie6816]

I like this man so much. You have done an amazing job 👏.

[@CommerceSpecialist]

Thx a lot dear😊🙏👍

[@ziaafridi8950]

Sir, Ma shaa Allah, you are teaching awesomely. Please, make viedos on AMA(ICMA) whole syllabus. Thank you 😍 ❤

[@CommerceSpecialist]

InshaAllah dear👍❤️🙏😊

[@DilsaraWimalathilake]

Clearly explained all along the video. Thank you very much sir.

[@CommerceSpecialist]

Ur welcome dear

[@oudaroy2073]

Thank you 🙏

[@joechibangu2007]

Excellent work. Greetings from Zambia, Africa.

[@CommerceSpecialist]

Thx dear

[@kumarchirra6728]

crystal clear explanation

[@CommerceSpecialist]

Thanks a lot dear😊🙏👍

[@standesonkeZungu]

Great stuff Proff

[@AbdulBari-xm3gz]

Simply amazing Sir ❤

[@CommerceSpecialist]

Thx my dear🙏👍

[@naveendwivedi8414]

Nice sir its a conceptual teaching amazing .

[@CommerceSpecialist]

Thanks dear

[@jonjrosen]

Same as my last comment thank you so much!

[@casuhail7793]

Masha allah great

[@CommerceSpecialist]

Thx

[@naseersajaad6385]

Very clear explanation. Thank you

[@deepakmeghani995]

This helped a lot, thankyou very much ♥️

[@CommerceSpecialist]

Thx Deepak

[@HDKaush]

Thank you Sir❤

[@NadiaNadia-gz2fu]

amazing

[@user-zw6wf5kn3s]

They have been well explained. Thank you sir

[@CommerceSpecialist]

Ur welcome dear👍🙏

[@shamnahaneef2786]

Please can u make cma classes for all sections, your classess are very useful

[@CommerceSpecialist]

Its will take a lot of time

[@CommerceSpecialist]

I make videos, whenever i get time

[@sangeetadam897]

THANKS

[@CommerceSpecialist]

🙏👍

[@umeshbasnet3540]

Thank You ... Best explanation ever

[@CommerceSpecialist]

You are welcome dear Umesh

[@oghenefrancisca3176]

Sir please can you share all formulas for calcuting all variances or do a video...thank you

[@imashasonali3044]

Very clear Sir. Thank you

[@CommerceSpecialist]

Thx dear2👍🙏

[@FULLMOON322]

Curious to know if you have any videos on the market share and market size variance?

[@CommerceSpecialist]

Coming soon dear👍🙏

[@bostonplastic7054]

Sir I am trying to solve this question as per vpoh spending variance formula but my answer coming wrong please explain
The JoyT Company manufactures Maxi Dolls for sale in toy stores. In planning for this year, JoyT estimated variable factory overhead of $600,000 and fixed factory overhead of $400,000. JoyT uses a standard costing system, and factory overhead is allocated to units produced on the basis of standard direct labor hours. The denominator level of activity budgeted for this year was 10,000 direct labor hours, and JoyT used 10,300 actual direct labor hours.
Based on the output accomplished during this year, 9,900 standard direct labor hours should have been used. Actual variable factory overhead was $596,000, and actual fixed factory overhead was $410,000 for the year. Based on this information, the variable overhead spending variance for JoyT for this year was
A. $4,000 favorable.
B. $24,000 unfavorable.
C. $22,000 favorable.correct
D. $2,000 unfavorable.

[@Lalaundercover389]

Thank you so much uncle

[@ilmafathi2480]

Sir, if we have given both material purchased and material used..which one we need to consider when finding actual qty to calculate the Direct material price variance

[@xiwish231]

Thank you sir for the video! :D

[@innobila8384]

This is great

[@rizaibsheikh5129]

Hello sir i have a doubt...if the O.H is underapplied than actual... Does it make the spending variance unfavourable?

[@cmaelaiyapallavan]

Great sir I love you

[@CommerceSpecialist]

Thx dear👍🙏

[@mohdimroz2769]

sir I so confused FOHVolume variance is budget - applied,

[@harveerarsenal]

thank youuuu!!

[@CommerceSpecialist]

👍

[@abuanfal2008]

Thank you

[@aneeshbabu6612]

Thanks sir

[@swathianup3019]

Sir,pls explain mix and yield varience also

[@CommerceSpecialist]

Coming up soon swathi

[@swathianup3019]

Thank you for the response, sir..eagerly waiting for your video❤

[@haniabukar857]

Can u kindly make a video about initial investment when company is buying new machine? No one on CZcams made this video yet

[@CommerceSpecialist]

Sure

[@haniabukar857]

@@CommerceSpecialist I know initial investment now thanks and passed my finance and Managerial accounting with 7/10 score🎉

[@muhammadalam9083]

Kindly add the sales variance

[@CommerceSpecialist]

Sure

[@sadhguruwisdom9946]

what is the concept behind using standard rate instead of actual rate while calculating material quantity variance.

[@CommerceSpecialist]

Becsuse focus is on quantity not on rate

[@aditivashisht6578]

Sir I want to take acca skill level classes from you how can I get it

[@CommerceSpecialist]

Dear email me, then we can discuss

[@abidan.a1600]

Sir, in one of the Overheads, there is no efficiency variance know, can you please tell about that

[@CommerceSpecialist]

Pls be specific dear

[@abidan.a1600]

@@CommerceSpecialist Sir, in Fixed Overhead there is no efficiency variation right, so was confused on FPOH volume efficiency variance. Just to confirm, this is only about volume, right?

[@user-oi2kf2ko9x]

👍

[@oghenefrancisca3176]

I enjoyed your teaching sir, please can I communicate?

[@CommerceSpecialist]

Sure, email me

[@mynameisbhupinderb]

can i get coaching for cma usa from you sir?

[@CommerceSpecialist]

Why not dear😊

[@mynameisbhupinderb]

@@CommerceSpecialist i have sent you an email requesting the details sir.

[@CommerceSpecialist]

Will get bk to u dear

[@healthylifestyle4429]

[@gauravdeep5708]

thanks sir