Matti Abdulbasit

Blended accountant in the making||proud to be a muslim

[Matti Abdulbasit @matti_basit]

@yabaleftonline @Bigsmok73320989 Rubber band😭

[Matti Abdulbasit @matti_basit]

@bryanmadeitt 🤣🤣🤣
I’ve been there and I’m still there😭😭😭

[Matti Abdulbasit @matti_basit]

@Novaayo

[Matti Abdulbasit @matti_basit]

Chelsea🤣🤣🤣🤣
#CHEHUL

[Matti Abdulbasit @matti_basit]

@Mujaahid_1 I Dey your dm sir 🤲🏾

[Matti Abdulbasit @matti_basit]

@Olubori_Muiz Shengbo werey 🤣🤣

[👳🏾‍♂️Mufti Of Ilorin Online 👳🏾‍♂️ @Adamthallith]

“Ladies and gentlemen, welcome to Mecca, Al-Arabiyyatu Saudiyyah”

Goosebumps, wey I feel that day when I hear that sound, I never forget till now.

May Allah call us to His house.

[Matti Abdulbasit @matti_basit]

@_BamBam001 Does the dog bring back economic benefits?

[Matti Abdulbasit @matti_basit]

@Olubori_Muiz 🤣🤣

[Matti Abdulbasit @matti_basit]

@favour75245 Is it?
I don’t think so🙂

[Matti Abdulbasit @matti_basit]

@bryanmadeitt Congratulations boss🫂

[Matti Abdulbasit @matti_basit]

@Mujaahid_1 The hijab🥹. Alhamdulillah

[Matti Abdulbasit @matti_basit]

@TSA_thebrand @LASUOfficial Thank you TSA!!!🤭

[Matti Abdulbasit @matti_basit]

I am incredibly proud to announce that I have officially graduated with a https://t.co/FFJuS40MLB. in Accounting, earning First Class Honors! 🎓✨
Looking back at this journey, this degree represents much more than a cumulative GPA. it represents a personal transformation.
#convo

[ICAN Success With Akin Obilana @AObilana]

Variance Analysis is one topic that ICAN candidates for Management Accounting & Performance Management struggle with.

I'm here to help you understand the basis.

Variance analysis is the process of comparing actual results with planned or budgeted results to identify and understand the differences.

Comparison is between Standard Cost & Actual Cost.

The Standard Cost have information on Input variables, for example in the determination of the cost of materials, price & quantity, presented in a Standard Cost Card.

I'm sure you know what actual cost is. But in the event that you don't, actual cost is the amount a business actually spends to produce a product or provide a service.

It is simply what happened.

Let's talk about how variance is calculated.

You will have two information:

1. Actual Cost, that is, what actually happened.

2. Standard Cost, that is, what is expected to happen.

Actual Cost is a benchmark, because it has happened. What you would be considering would be, what is the standard cost of actual production?

For example:

If Standard Cost of a material is N20. Where the price is N5 and 4kg is expected to be used for a unit of the product. What would be the material cost variance if 9,000kg of material costing N58,500 was used to produce 3,000 units of a product.

Suggested Step:
1. Determine the standard cost of actual production
N20 * 3,000 units = N60,000
2. Identify the actual cost of actual production (this is usually stated in the question)
Actual Cost = N58,500
3. Variance = N60,000 - N58,500 = 1,500 (Favourable)

Why is it favorable?
Actual Cost is less than Standard Cost

[Matti Abdulbasit @matti_basit]

@Demo4show B

[Matti Abdulbasit @matti_basit]

@Mujaahid_1 GOD Abeg😭😭😭

[Matti Abdulbasit @matti_basit]

@Mujaahid_1 This club matter don tire me 😭😭

[Matti Abdulbasit @matti_basit]

Man U matter don tire me😭😭😭
#hullvsmun

[Matti Abdulbasit @matti_basit]

@ChuksEmma947401 Interested