Managerial Accounting Helpundefined

Setting standards for a product may involve many employees of the company. Identify some of the employees who may be involved in setting the standard costs, and describe what their role might be in setting those standards. i (Click the icon to view the roles.) A list of employees who are involved in setting the standard costs is given below. Select the role each employee most likely plays in setting the standard costs. The following employee: provides information about: Human resources manager Production manager Purchasing manager Production manager and engineers Roles 1. the nature and amount of resources needed to support activities, such as moving materials, maintaining equipment, and product inspection (for manufacturing overhead standards). 2. economic forecast and trends, industry averages. 3. purchase costs, discounts, delivery requirements, and credit policies (for direct materials cost standards). 4. shipment and warehousing of production materials. 5. wage rates based on experience requirements, payroll taxes, and fringe nefits (for direct labor cost standards). 6. (1) product specifications, spoilage, and production scheduling (for direct materials efficiency standards) and (2) time requirements for production levels and employee experience needed (for direct labor efficiency standards). Print Done Choose from any drop-down list and then continue to the next