Questions with Answers on Standard Costing

Questions with Answers on Standard Costing

Standard Cost – Meaning & Concept, Setting of different types of Standard, Establishing

Standard Costing System, Standard Cost Sheet, Standard Cost Period, Revision of Standards,

Variance Analysis – Material Cost Variance, Labour Cost Variance and Overhead Variance -

Two Variance, Three Variance and Four Variance Methods, Analysis of Overhead Variance,

Reporting of Variance, Variance Ratios and Cost Ratios, Operating Statements in Standard

Costing System.