09 February 2010
the best way to learn formulas especially standard costing formula is not to mug them up, but to understand its logic & you won't need a reference again. Like, if you need to calculate variance, it is basically the difference between what you budgeted & what you actually did. whether +tive will be adverse or negative will depend upon what you are comparing, & what is favourable & unfavourable
CAclubindia
