Complete provided standard cost and variance analysis matrix

Assignment Help Cost Accounting

Reference no: EM131138586

Accounting: Standard Cost and Variance Analysis

Read "Standard Cost and Variance Analysis" from the Electronic Reserve Reading Costing Principles and Systems.

Complete the provided Standard Cost and Variance Analysis Matrix with your Learning Team, providing at least two reasons why you agree with the author's statements and at least two reasons why you would disagree with the author's statement. Each agreement/disagreement statement should be 125 words, at a minimum.

Author's Comment	I agree because...	I agree because...
"In the future, I envision more companies moving toward actual cost systems. Standard cost variance analysis will no longer be required because inventory transactions will be recorded at actual cost."
"This change will free up significant resources in the finance department and will allow cost analysts to function more as business partners within the organization."
"The accounting focus will shift from variance analysis to understanding the underlying cost structure of a product or process, highlighting significant cost trends, identifying cost reduction opportunities and educating operations personnel on the financial impact of their day-to-day decisions."
"The analyst's role will become proactive instead of reactive."
"In the future, I envision more companies moving toward actual cost systems. Standard cost variance analysis will no longer be required because inventory transactions will be recorded at actual cost."
"This change will free up significant resources in the finance department and will allow cost analysts to function more as business partners within the organization."
"The accounting focus will shift from variance analysis to understanding the underlying cost structure of a product or process, highlighting significant cost trends, identifying cost reduction opportunities and educating operations personnel on the financial impact of their day-to-day decisions."
"The analyst's role will become proactive instead of reactive."

Reference no: EM131138586

Questions Cloud

Indicate what accounts are increased and decreased : Konerko Industries had the following transactions.1. Borrowed $5,000 from the bank by signing a note.2. Paid $2,500 cash for a computer.3. Purchased $700 of supplies on account.

Calculate the budgeted cost of direct labor for the month : The budgeted production of Taurus Inc. is 8,000 units per month. Each unit requires 40 minutes of direct labor to complete. The direct labor rate is $100 per hour. Calculate the budgeted cost of direct labor for the month.

Alculate the npv for both track hoes which should choose : The revenue from either track hoe is $95.00 per hour. Using a useful life of four years, a salvage value equal to 20% of the purchase price, 1,200 billable hours per year, and a MARR of 20%, calculate the NPV for both track hoes. Which track hoe shou..

Determine the depth of penetration of the wall : Determine the depth of penetration of the wall into the silty clay soil and the maximum bending moment. Select two methods from FMM, FSM, and NPPM, and compare the results. Groundwater is 10 m below the surface.

Complete provided standard cost and variance analysis matrix : Complete the provided Standard Cost and Variance Analysis Matrix with your Learning Team, providing at least two reasons why you agree with the author's statements and at least two reasons why you would disagree with the author's statement.

Transaction data for hanshew real estate agency : Transaction data for Hanshew Real Estate Agency are presented in E2-4.

What would be the unemployment rate : Assuming the total population is 150 million, the labor force is 100 million, and 94 million workers are employed, What would be the unemployment rate?

Which track hoe should your company choose : The operator costs $28.00 per hour. The revenue from either track hoe is $95.00 per hour. Using a useful life of four years, a salvage value equal to 20% of the purchase price, 1,200 billable hours per year, and a MARR of 20%, calculate the NPV for b..

Determine the stability of the cantilever wall : Determine the stability of the cantilever wall shown in Figure P15.10 and sketch a drainage system to prevent buildup of pore water pressures behind the wall.

User Account

All Pages