Question: How is the material standard developed? Why are the quantities shown in the bill of materials not always the same quantities shown in the standard

How is the material standard developed? Why are the quantities shown in the bill of materials not always the same quantities shown in the standard cost card?

Step by Step Solution

★★★★★

3.36 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Material standards must be based on both quality and quantity of materials The qua... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

146-B-M-A-S-C (723).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Why are the quantities shown in the bill of materials not always the same quantities shown in the standard cost card?

Why wouldn't a company always store large quantities of inventory to eliminate shortages and stockouts?

Why is least total cost performance not always what a customer prefers? Illustrate a situation that supports your answer?

Why are the quantities shown in the bill of materials not always the same quan tities that are shown in the standard cost card? LO1

Please do req 15 & req 16 Student(s) Fall 2019 Req. 4: The production engineers have also given you the production labor requirements for each Individual bag produced, assuming one bag is produced at...

Req. 4 : The production engineers have also given you the production labor requirements for each individual bag produced, assuming one bag is produced at a time: Cutting time: 3 0 minutes per bag;...

Why are the quantities shown in the bill of materials not always the same quantities shown in the standard cost card? How is the material standard developed? LO.1

STANDARD VERSUS ACTUAL COST AND QUANTITIES LAB 3 At year end, the T.O.T.E.S. accountant prepares a summary of production and inventory data for the year (Exhibit 3-B) and a partial income statement...

This case has been selected to give you an opportunity to apply financial analysis to a firm. To do this you will use the firm's published financial and select financial ratios to make a...

-1 -2 -3 -4 -5 - 6 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Req. 21: Calculate the gross profit on the sale to Katie's Boutique: Req. 22: Say Katie's Boutique has found an overseas manufacturer that...

For any real numbers p1,...., pn such that 0 ( pi ( 1, i =1, ...., n, show that For the left-hand side, use the inequality ex ( 1 + x, x ( (, and for the right-hand side employ the induction method?...

Discuss the Ocean terminology in terms of tidal energy.

on january 1 , 2 0 2 2 Polk Corporation and Spraz Corporation had condendensed balance sheet. what is the amount attributable to consolidated noncurrent assets at 1 / 2 / 2 0 2 2

5.14 To earn more, get married? Data show that men who are married, and also divorced or widowed men, earn quite a bit more than men the same age who have never been married. This does not mean that...

Entries to Manufacturing Overhead normally are only made daily. Do you agree? Explain.

What is the purpose of a job cost sheet?

You Rang? manufactures and sells boomerangs. The companys contribution format income statement for the month of September is given below. The company is looking to make a profit of $80,000 for the...

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff...

Assume the total cost of a college education will be $350,000 when your child enters college in 17 years. You presently have $56,000 to invest. What annual rate of interest must you earn on your...