Management Accounting Exam Practice: Variances, Budgets, Cost-Volume-Profit, Pricing Decisions & Performance Measures
Practise exam-style management accounting questions under time pressure: flexible budgets and variances, CVP with several products, relevant costs, transfer prices, capital budgeting and divisional KPIs, with every cell checked as you go.
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About this course
In this course you practise exam-style management accounting questions in a spreadsheet, with every cell checked. You flex a budget and split the profit gap into sales volume, sales price and cost variances. You work out material price and usage, labour rate and efficiency, mix and yield, and the four overhead variances with under-absorption. You solve a multi-product break-even with SUMPRODUCT and a margin of safety, rank products by contribution per machine hour for the optimal mix, and set a transfer-price range. Finally you appraise an investment with NPV, IRR, discounted payback and a profitability index, compare divisions by ROI and residual income, and finish with a timed mixed mock.
Lessons
- Flexible Budget & Sales Variances: Volume, Price and Flexed Profit Pro
- Material & Labour Variances: Price, Usage, Rate, Efficiency, Mix and Yield Pro
- Overhead Variances: Fixed Spending & Volume, Variable Spending & Efficiency Pro
- Multi-Product CVP: Weighted Contribution, Break-Even by Product & Margin of Safety Pro
- Relevant Costing Under a Constraint: Contribution per Machine Hour, Ranking & Optimal Mix Pro
- Transfer Pricing Between Divisions: Minimum, Maximum and the Negotiation Range Pro
- Capital Budgeting: NPV, IRR, Payback, Discounted Payback & Profitability Index Pro
- Divisional Performance: ROI, Residual Income, Margin × Turnover & a Timed Mock Pro