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Costing Systems and Standard Costing mind maps

18 mind maps by 13 users

This GoConqr page gathers a small set of user-made mind maps on costing systems and standard costing, from ABC and process costing to materials and sales variances. The resources are mostly at university level, for university students practicing costing concepts and variance analysis and teachers looking for study material. Pick a map to begin.

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More Costing Systems and Standard Costing resources

All Costing Systems and Standard Costing resources Flashcards 40

About costing systems and standard costing mind maps

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Costing Systems and Standard Costing mind maps

Start with ABC to see cost drivers alongside costs per driver and per unit. For a view of standard costing and different types of variance, use the Variance Analysis map that covers standards, materials, labor and overheads.

Other maps focus on particular areas. Summary of Materials Variances brings together usage and price variances, while Planning and Operational Variances separates planning from operational variances. There are also maps on process costing and sales variances.

Study with a map

Follow the branches of a map, then cover them and try to recall how the ideas connect. Return to the map to check what you missed. If you want to test your recall differently, switch to a quiz on the unit page; use a flashcard deck when you want to focus on terms.

Choose a map that matches the topic you are studying and follow its branches.

Frequently asked questions

Which mind map is a useful starting point?

For activity-based costing, start with ABC. It sets out cost drivers and calculations for costs per driver and per unit. For standard costing, the Variance Analysis map covering standards, materials, labor and overheads offers a starting point before you move to a more focused variance map.

What do the variance mind maps cover?

The maps cover materials, labor and sales variances, as well as planning and operational variances. Summary of Materials Variances includes usage and price variances, while Reasons for Labour Variances looks at efficiency, rate and idle time. There is also a map on causes of variances and remedial action.

Are these mind maps free to use?

Yes. Every resource listed on this page is free to open and study without an account. The mind maps were made by GoConqr users. A free account also lets you save quiz scores and make your own quizzes, mind maps, flashcards and notes.

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