Back to the full dot-point answer
ScotlandAccountingQuick questions
Preparing Management Accounting Information
Quick questions on Standard costing and variances - SQA Higher Accounting
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Standard price £5 per kg, actual price £4.60, actual quantity 2,000 kg. Calculate the price variance and label it. [2 marks]
What is q2?Show answer
Standard hours for output 3,000, actual hours 3,200, standard rate £10. Calculate the efficiency variance and label it. [2 marks]
What is q3?Show answer
Suggest one cause of a favourable material usage variance. [1 mark]
Have a question we have not covered?
This dot-point answer is short enough that we have not extracted many short questions yet. Read the full dot-point answer or ask Mo, our study assistant, in the chat for follow ups.