Standard costs are bases for a proper managerial control of manufacturing operation. Define standard cost and explain
Question:
Standard costs are bases for a proper managerial control of manufacturing operation. Define standard cost and explain the above statement.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Standard Cost Standard cost refers to the predetermined planned or budgeted cost that a company expects to incur in producing a unit of a product or p...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Please help with the discusin questions ! I give thumbs up Case #1: Hailing a New Era: Haier in Japan As one of the most valuable brands in China, Haier designs,manufactures, and sells various home...
-
In February 2015, Majdy I. was appointed as a Chief Executive Manager of the Manufacturing Company by Mamoun N., President. Majdy had wide executive experience in the manufacturing sector with high...
-
Orca Industries is considering the purchase of Shark Manufacturing. Shark is currently a supplier for Orca and the acquisition would allow Orca to better control its material supply. The current cash...
-
Maize Corp. is analyzing a proposal to switch its factory over to a lights-out operation similar to what was discussed in the opening Decision Point. To do so, it must acquire a fully automated...
-
As part of a study of corporate employees, the director of human resources for PNC Inc. wants to compare the distance traveled to work by employees at its office in downtown Cincinnati with the...
-
What is the role of HR professionals in information security and privacy management?
-
Ten-year-old Marla says her classmate Bernadette will never get good grades because she's lazy. Jane believes that Bernadette tries but can't concentrate because her parents are divorcing. Why is...
-
Suppose the 2's complement representation of x is (a 32-bit word is used): 11111111111111111111111111101001 What is the value of x? Give your answer in decimal representation. Explain why your method...
-
(a) The steps in the accounting cycle for a merchandising company differ from the steps in the accounting cycle for a service company. Do you agree or disagree? (b) Is the measurement of net income...
-
What is standard costing and how would you distinguish it from budgetary control?
-
Compare and contrast the usefulness of ideal standards, basic standards, and currently attainable standards.
-
The net income for Metz Co. for 2015 was $280,000. For 2015, depreciation on plant assets was $70,000, and the company incurred a loss on disposal of plant assets of $12,000. Compute net cash...
-
How do fates contracts assume a key part in worldwide monetary administration contextual investigations, and what are the benefits and dangers related with utilizing prospects to fence money and item...
-
How do advance agreements add to worldwide monetary administration on the off chance that reviews, and what advantages and impediments do they propose for overseeing money risk in worldwide business...
-
= Suppose Luca chooses = (6.4) when prices (1,1), (3.6) when prices are (2.1), and (8,4) when prices are (1,2). Are Luca's choices consistent with WARP and/or GARP?
-
A similarity between project management and general management is the tendency to "manage by exception" Is this statement true or false and why?
-
Chevy Corp. has common shares with a current total market value of $75,000,000, and a cost of equity of 29%. The company has total debt outstanding that has a market value of $60,000,000 and a cost...
-
In Data Set 5 in Appendix B, blood lead levels are represented as 1 for low, 2 for medium, and 3 for high. The average (mean) of the 121 blood lead levels is 1.53. Identify the level of measurement...
-
Consider a game of poker being played with a standard 52-card deck (four suits, each of which has 13 different denominations of cards). At a certain point in the game, six cards have been exposed. Of...
-
Choosing customers. Broadway Printers operates a printing press with a monthly capacity of 2,000 machine-hours. Broadway has two main customers: Taylor Corporation and Kelly Corporation. Data on each...
-
Relevance of equipment costs. The Auto Wash Company has just today paid for and installed a special machine for polishing cars at one of its several outlets. It is the first day of the companys...
-
Equipment upgrade versus replacement (A. Spero, adapted) The TechMech Company produces sells 6,000 modular computer desks per year at a selling price of $500 each. Its current production equipment,...
-
Write a python program that drawing the following fill shape. Python Turtle Graphics
-
As a standard practice, the company does not recognize a provision for a guarantee of good operation of the products sold. Based on past statistics, the cost of repairing damage of products sold in...
-
Can you elaborate on the iterative nature of your strategic planning process, highlighting mechanisms for continuous learning, adaptation, and refinement in response to evolving environmental...
Study smarter with the SolutionInn App