Respuesta :
The standards and variances may be create potential problems.
What is Standard costing and variance analysis ?
- Standard Going is a fashion businesses use to keep track of their costs. It involves setting a" standard" cost for each item or exertion and comparing factual costs to these norms. Standard going can be used to track both direct and circular costs.
- Friction analysis is a fashion used to compare factual costs to standard costs. This comparison can help directors identify areas where costs are advanced than anticipated and take corrective action if necessary. friction analysis can also assess the impact of price changes, volumes, or other factors on overall cost situations.
- Standard Going and friction analysis are essential tools for any business trying to control costs. They can help directors identify areas where costs need to be reduced and take action to ameliorate profitability.
- Standard cost dissonances do when there's a difference between the factual cost of goods vended and the Standard Cost of those same goods. Standard going is an account system that uses destined costs for accoutrements and labor to value force and calculate the cost of goods vended. Friction analysis is also used to compare factual results to the Standard to identify where differences live. Standard cost dissonances can be caused by numerous effects but are generally due to changes in material prices, labor rates, or productivity.
Make an appointment to meet with the director of an bus form shop that uses norms. In utmost cases, this would be an bus form shop that's combined with a public chain similar as Firestone or Sears or the service department of a new- auto dealer. Required: At the scheduled meeting, find out the answer to the following question and write a memo to your instructor describing the information obtained during your meeting. The standards and variances may be create potential problems.
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