Page 285 - Microsoft Word - 00 ACCA F2 Prelims.docx

Standard costing

8.1 Absorption costing operating statements
$ $ $

Budgeted profit

Sales variances: Favourable Adverse
Sale price variance

Sales profit volume variance
Actual sales minus the standard full
cost of sales

Cost variances:
Material price
Material usage

Labour rate

Idle time
Labour efficiency

Variable overhead expenditure
Variable overhead efficiency

Fixed overhead expenditure
Fixed overhead capacity

Fixed overhead efficiency
Total variances

Actual profit

279