Marginal costing and absorption costing covering meaning and features of marginal costing, income statement under marginal costing, direct costing, differential costing, absorption costing meaning and features, income statement under absorption costing, comparison between marginal and absorption costing.
Cost-volume-profit analysis covering meaning of contribution, computation of contribution, profit/volume (P/V) ratio, meaning and computation of P/V ratio, uses of P/V ratio, improving P/V ratio, CVP relationship, practical examples and calculations.
Revenue variance/sales variance covering introduction, sales value variance, sales price variance, sales volume variance, sales quantity variance, sales mix variance, sales margin variance, turnover method, profit method, formulas and calculations.
Variance analysis types covering objectives, introduction, meaning of variance and variance analysis, controllable/uncontrollable variances, classification (cost and sales variances), direct material, direct labor, overhead cost variance calculations and interpretations.
Variance analysis covering meaning and introduction to variance, controllable and uncontrollable variances, classification of variances (cost and sales), direct material cost variance (price, usage, mix, yield), direct labor cost variance (rate, efficiency, mix, yield), overhead cost variance (variable, fixed).