# Flexible Budgets, Standard Costs, & Variance Analysis

What you will learn

### Describe the benefits of overhead variance analysis and how to use it

Description

Managerial & cost accounting tools

The course will introduce managerial accounting topics that will be used throughout the course, contrasting managerial accounting to financial accounting so that we are in the correct mindset as we move forward.

We will discuss flexible budgets, contrasting flexible budgets with static or fixed budgets, demonstrating the benefits of flexible budgets and how they can be used. We will work example problems related to flexible budgets and provide step by step instructional videos to apply the concepts.

The course will define and analyze standard costs and cost variance analysis, giving an overview of cost variance analysis concepts that we will go into more detail on in later sections.

We will explain sales variance analysis, discussing when it can be used, and how to calculate sales variances. We will provide example problems and step by step instructional videos so we can apply what we learn.

The course will cover direct materials variance analysis, showing what it is, how to use it, and how to calculate direct materials variance analysis. We will demonstrate the concepts listed using instructional videos and using example problems along with step by step instructional videos to complete them.

We will discuss direct labor variance analysis, demonstrating what it is, and how direct labor variance analyst is used. We will demonstrate the concepts with instructional videos and provide example problems and step by step instructional videos to complete them.

The course will discuss overhead variance analysis. We will describe why it is used and how to calculate overhead variance analysis. We will provide demonstration presentations and example problems with step by step instructional videos to help complete them.

We will also include a comprehensive problem on overhead variance and a comprehensive problem on variance analysis. The comprehensive problems will provide preformatted Excel worksheets that we can fill out along with step by step instructional videos. The Excel worksheets will generally have two or three tabs, one tab having the completed problem, the second tab having a preformatted Excel worksheet to work through the problem in a step by step format with instructional videos, and the third tab with a blank sheet that we can use to format our own Excel worksheet.

Â

English
language

Content

### Introduction

Introduction
PDF â€“ 150 Budgetary Controls and Reporting
150 Budgetary Controls and Reporting
PDF â€“ 160 Budget Options
160 Budget Options
Multiple Choice Questions 1
Accounting Comic

### Managerial Accounting Review

2 Managerial Accounting Overview
PDF â€“ 10 Managerial Accounting Introduction
10 Managerial Accounting Introduction
PDF â€“ 20 Cost Classifications
20 Cost Classifications
PDF â€“ 30 Product Costs & Period Costs.ENCODING
30 Product Costs & Period Costs.ENCODING
PDF â€“ 40 Prime Costs & Conversion Costs
40 Prime Costs & Conversion Costs
PDF â€“ 50 Manufacturerâ€™s Balance Sheet
50 Manufacturerâ€™s Balance Sheet
PDF â€“ 60 Manufacturerâ€™s Income Statement
60 Manufacturerâ€™s Income Statement
PDF â€“ 70 Manufacturing Activities Flow
70 Manufacturing Activities Flow
PDF â€“ 80 Just In Time (JIT) Manufacturing
80 Just In Time (JIT) Manufacturing
Multiple Choice Questions 2
Accounting Comic

### Flexible Budget

3 Flexible Budget
PDF â€“ 170 Flexible Budget Benefits
170 Flexible Budget Benefits
PDF â€“ 175 Flexible Budget
175 Flexible Budget
Worksheet â€“ 175 Flexible Budget
177 Flexible Budget Compared To Actual
Worksheet â€“ 177 Flexible budget compared to actual part 1
Worksheet â€“ 178 Flexible budget compared to actual part 2
Multiple Choice Questions 3
Accounting Comic

### Standard Costs & Cost Variance Analysis Overview

4 Standard Costs & Cost Variance Analysis Overview
PDF â€“ 180 Standard Costs
180 Standard Costs
PDF â€“ 190 Cost Variance Analysis
190 Cost Variance Analysis
Multiple Choice Questions 4
Accounting Comic

### Sales Variance Analysis

5 Sales Variance Analysis
PDF â€“ 195 Sales Price & Volume Variance
195 Sales Price & Volume Variance
Worksheet â€“ 195 Sales Price & Volume Variance
Multiple Choice Questions 5
Accounting Comic

### Direct Materials Variance Analysis

6 Direct Materials Variance Analysis
PDF â€“ 196 Variance Analysis Direct Material Price Variance & Quantity Variance
196 Variance Analysis Direct Material Price Variance & Quantity Variance
Worksheet â€“ 196 Variance analysis part 1 direct materials price and quantity var
Multiple Choice Questions 6
Accounting Comic

### Direct Labor Variance Analysis

7 Direct Labor Variance Analysis
PDF â€“ 200 Variance Analysis Direct Labor Rate Variance & Efficiency Variance 230
200 Variance Analysis Direct Labor Rate Variance & Efficiency Variance 2300
Worksheet â€“ 200 Variance analysis Part 2 direct labor rate and efficiency
Multiple Choice Questions 7
Accounting Comic

PDF â€“ 310 Overhead Cost Variances
Worksheet â€“ 310 Overhead Controllable Variance & Volume Variance
Worksheet â€“ 312 Overhead Spending & Efficiency Variance
Multiple Choice Questions 8
Multiple Choice Questions 9
Short Calculation Questions
Accounting Comic

Worksheet â€“ 400 overhead Variance Comp
Accounting Comic

### Comprehensive Problem

10 Comprehensive Problem
Comp Prob 1 Data
Comp Prob 2 Flexible Overhead Budgets
Comp Prob 3 Direct materials cost variance
Comp Prob 4 Direct labor cost variance
Comp Prob 5 Overhead Variance Report
Multiple Choice Questions 10
Accounting Comic