Describe briefly how standard costs are set for (a). Material (b). Labour.
Question:
Describe briefly how standard costs are set for
(a). Material
(b). Labour.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (4 reviews)
Standard costs are predetermined cost levels used by organizations as a benchmark for measuring and controlling their actual costs These standards are ...View the full answer
Answered By
Ma Kristhia Mae Fuerte
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
LLJ Satellites: Variance Analysis and Budgeting Jack Childs is nervous about his company's future performance. The Childs family own 40% of the shares of LLJ Satellites, and generally has control...
-
Data You are employed as the assistant management accountant in the group accountant's office of Hampstead plc. Hampstead recently acquired Finchley Ltd, a small company making a specialist product...
-
The weights of ice cream cartons are normally distributed with a mean weight of 12 ounces and a standard deviation of 0.7 ounce. (a) What is the probability that a randomly selected carton has a...
-
Prove that the curves y 2 = 4x and x 2 = 4y divide the by of the squre bounded by x = 0, x = 4, y = 4 and y = 0 into three equal parts.
-
For each of the following situations, identify the correct factor to use from Table on future value and present value tables. Also, compute the appropriate present value. 1. Annual net cash inflows...
-
Many grocery stores and large retailers such as Walmart and Kmart have installed self-checkout systems so shoppers can scan their own items and cash out themselves. How do customers like this service...
-
Calculate the solution to the following SDE: \[d X_{t}=\alpha\left(m-X_{t} ight) d t+\sigma d B_{t}\] with \(X_{0}=x\). The process satisfying this equation is called the meanreverting...
-
Griffin Enterprises issues a $660,000, 45-day, 4% note to Romo Industries for merchandise inventory. a. Journalize Griffin Enterprises' entries to record: 1. The issuance of the note. 2. The payment...
-
Monie Love Inc. began operations in January 2 0 2 0 and had the following reported net income or loss for each of its 5 years of operations: 2 0 2 0 $ 2 2 5 , 0 0 0 loss 2 0 2 1 $ 1 4 0 , 0 0 0 loss...
-
At April 30, partners capital balances in YBG Company are: Younger $30,000, Beyer $16,000, and Giger $10,000. The income-sharing ratios are 5:3:2, respectively. On May 1, the YBGE Company is formed...
-
Discuss some of the problems that might be created by standards which are set too high and by standards which are too loose.
-
What is the difference between an estimated cost and a standard cost?
-
In the HD molecule of hydrogen, one nucleus is \({ }^{1} \mathrm{H}\left(\operatorname{spin} \frac{1}{2}ight)\) and the other is a deuteron \({ }^{2} \mathrm{H}\) (spin 1). What are the possible spin...
-
A US-based company has a subsidiary in the UK. The subsidiary's income statement for the year 2022 is as follows: Revenue: 1,000,000 Expenses: 500,000 Net income before taxes: 500,000 The exchange...
-
Today's Exchange Rates* for the Indian Rupee Sterling 56.58 56.85 54.96 +0.34 53.89 US Dollar 34.82 36.13 34.82 -0.64 34.51 Euro 37.29 38.86 35.94 +1.34 35.42 Yen 0.32 0.34 0.30 -0.02 0.30 Rates are...
-
Java Inc. has a 15 year bond with liquidity premium of 0.9%, maturity risk premium of 1.2%. The bond yield is 9.8%. The real risk-free rate is 3.3% and average inflation for the period is 3.1% What...
-
This a problem illustrates why scientists use significant figures. A geologist finds an interesting fragment of an asteroid and correctly determines it is 9 billion years old. The rock is then placed...
-
A lumber company owns a forest that is of rectangular shape 1 mi by 2 mi if the company cuts a uniform strip of trees along the outer edges of this forest, how wide should this strip be if 3/4...
-
Bayer HealthCare LLC produces low-dose aspirin pills designed to contain 81 mg of aspirin. Because each pill contains other ingredients, including corn starch, talc, and propylene glycol, it is...
-
Walker, Inc., is an all-equity firm. The cost of the company's equity is currently 11.4 percent and the risk-free.rate is 3.3 percent. The company is currently considering a project that will cost...
-
Payback, even and uneven cash flows. You have the opportunity to expand your business by purchasing new equipment for $159,000. You expect to incur cash fixed costs of $96,000 per year to use this...
-
Replacement of a machine, income taxes, sensitivity. (CMA, adapted) The Smacker Company is a family-owned business that produces fruit jam. The company has a grinding machine that has been in use for...
-
NPV and AARR, goal-congruence issues. Nate Stately, a manager of the Plate Division for the Great Slate Manufacturing Company, has the opportunity to expand the division by investing in additional...
-
My question is: The article uses the term 'self-efficacy' several times. Briefly describe what you understand by self-efficacy in the context of the paper and whether you think it has been clearly...
-
The y-intercept of the graph of the exponential function f(x) = 7.5(0.98)* is. Answer:
-
Suppose an organization wishes to boost their ESG ratings and to go above and beyond in their environment, social, and governance ratings. What objective are they trying to achieve? Explain.
Study smarter with the SolutionInn App