Consequences of improper use of standard costs

Reference no: EM1359408

There are several potential problems that can occur from the improper use of standard costs. Labor quantity standards and efficiency variances assume that production is labor-paced. However, output in many companies is determined by the processing speed of machines. Also, too much emphasis on meeting the standards may overshadow other important objectives. Discuss other potential problems that can occur from the improper use of standard costs.

Reference no: EM1359408

Questions Cloud

Individual diversity and conflict management : How does individual diversity and conflict management relate to teamwork? Diversity could also include a difference in personality types and learning styles.

Taxation and corporation taxes : Betsy receives a salary of $50,000 from her employer (a retail clothing store) and several fringe benefits. Her employer pays premiums of $300 for her $40,000 group term life insurance coverage and pays $2,400 for medical insurance premiums.

Consolidation of variable interest entities : Financial Interpretation No. 46R, "Consolidation of Variable Interest Entities," references several of the FASB Concepts Statements in motivating the need to identify and consolidate variable interest entities.

Calculate the discount rate : A stock sells for $40. The next dividend will be $4 per share. If the rate of return earned on reinvested funds is 15% and the company reinvests 40% of earnings in the company.

Consequences of improper use of standard costs : There are several potential problems that can occur from the improper use of standard costs. Labor quantity standards and efficiency variances assume that production is labor-paced.

Followership behaviors : How would you say these behaviors had led to effective or ineffective leadership within and organization

Consequences for the individual and society : Discuss the issue of substance addiction in terms of consequences for the individual and society.

Using rsa user ciphers text m with other user public key : Using RSA User1 ciphers his text M with User2 public key and he gets the cipher text C=371 he sends the Ciphertext to User2 who decrypts the cophertext with his private key.

Find the expected value of total sales : Depending upon the state of the economy, Ables Manufacturing Corporation expects to sell the following number of prefabricated buildings. The probability of each state is indicated.

User Account

All Pages