Standard Costs and Variance Analysis (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

Course Description
Standard costs are commonly used in many accounting applications. In the Standard Costs and Variance Analysis course, we address the situations in which standard costing can be used, its advantages and disadvantages, and how to create a standard cost. We also cover the various types of variances that can be derived from standard costs, including materials, labor, and overhead variances. Finally, we address which variances should be reported, and how to report them to management.

Author: Steven Bragg

Course Number: AC1162

Learning Objectives

  • Identify the circumstances under which standard costs can be used.

  • Specify the different variances applicable to standard costing.

  • Identify the calculations for each type of standard cost variance.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: October 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.