Distinguish between the control purpose and the product-costing purpose of standard costing and flexible budgeting.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
The control purpose of a standardcosting system is to provide benchmarks against whi...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain the difference between the control purpose and the product costing purpose of standard costing?
-
The Milieu Manufacturing Company (MMC) makes and sells two products, A and B. Each product is made up of two raw materials, RM-1 and RM-2. Established standards and projected costs for the next year...
-
Distinguish between a columnar and a formula flexible budget.
-
Shoppers enter Hamilton Place Mall at an average of 120 per hour. What is the probability that at least 35 shoppers will enter the mall between 5:00 and 5:10 pm?
-
What is the probability that a five-card poker hand contains at least one ace?
-
Liz Marett is the chief financial officer for Fulton Construction. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5 was another excellent...
-
The geometric mean is often used in business and economics for finding average rates of change, average rates of growth, or average ratios. Given n values (all of which are positive), the geometric...
-
Pamela McDonald, chief management accountant and controller for Murray Manufacturing Inc., was having lunch with Roger Branch, manager of the companys power department. Over the past six months,...
-
Does it seem like Ryan Guillory has adopted the three recipes of a personal selling philosophy? (See Strategic Selling/Consultation Model). Explain.
-
Phyllis maintained an IRA account at the brokerage firm ABC. On February 11 of the current year, she requested a check for the balance of her account. She received the check made out in her name and...
-
What is the conceptual problem of applying fixed manufacturing overhead as a product cost?
-
Why are fixed overhead costs sometimes called capacity producing costs?
-
Find the slope-intercept form for the line satisfying the conditions. Parallel to 2x - 3y -6, passing through (4, -9)
-
If Mary earns $260,000 per year how much does she earn per week?
-
A shopkeeper mixes peanuts(cost per kg = 25) and walnuts(cost per kg = 500) to make a 20 kg mixture, which costs 4300 rupees. How many kg of peanuts and walnuts each are put in the mixture?
-
Question 10 (5 points) Your code is using a symbol table of type BinarySearchST . What methods must be defined in classes Account and/or Transactions in order for the symbol table to work correctly?...
-
Combined Furniture Warehouse received an invoice of $8000 dated November 3rd with terms 2/10, 1/20, n/30. Combined Furniture made a payment of $2,940 on November 12th. How much did Combined Furniture...
-
Of the $120 billion spent by the Federal Housing Administration and the Veterans Administration in paying for hew homes from 1934 to 1962, what amount went to white families? Why and how?
-
Use social identity theory to explain the perceptions that employees on the Indian and Filipino team have of themselves and each other. How does social identity theory help us to understand their...
-
Maria Castigliani is head of the purchasing department of Ambrosiana Merceti, a medium-sized construction company. One morning she walked into the office and said, The main problem in this office is...
-
FlexMan, an electronics contract manufacturer, uses its Topeka, Kansas, facility to produce two product categories: routers and switches. Consultation with customers has indicated a demand forecast...
-
Division A manufactures electronic circuit boards. The boards can be sold either to Division of the same company or to outside customers. Last year, the following activity occurred Division A: Sales...
-
Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own divisions return on investment (ROI). Assume the following information relative...
-
Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own divisions return on investment (ROI). Assume the following information relative...
-
1)List three important principles of economics. 2) Explain in detail why should business owners carefully consider the legal form of ownership for their business? 3) How is the financial risk related...
-
What is the data relationship throughout the year between profitability and fixed cost? Explain in detail.
-
Provide a brief overview of what variance analysis is. Why do we use variance analysis in financial management? Share one way the healthcare organization (or department) you used for your example in...
Study smarter with the SolutionInn App