Describe couple of examples of standards in your daily life

Assignment Help Managerial Accounting
Reference no: EM133072876

Question - Manufacturing firms set standards for the amount and price of direct materials, direct labor, and factory overhead consumed by their products. Standards establish a benchmark to be used in evaluating actual performance. They allow management to recognize when costs are not in line with the company's projections and to take corrective action.

Starbucks and other companies have been in the headlines recently for tying executive compensation to their diversity and community impact goals.

For your discussion post:

(1) Describe a couple of examples of standards in your daily life. For example, following the Student Code of Conduct requires you to follow rules.

(2) If you are a member of the Board of Directors for a publicly-traded company, what position would you take - would you tie company performance, to CEO pay or would you establish different standards for the CEO?

Reference no: EM133072876

Questions Cloud

Estimate the value of tigers ltd : Tigers Ltd has $100 million in debt outstanding, in both book value and market value terms, and expects to maintain a debt ratio of 40%. The beta of the stock i
Calculate the estimated inventory at may : Information follows for the month of May: Inventory, May 1 $359,000. Calculate the estimated inventory at May 31, assuming that the gross profit is 25% of sales
How much money should you invest in the stock : How much money, x, should you invest in the stock if your utility function is u(W ) = ln(W ), and the probability the stock will go up is 58%
How confident you have in meeting your goal : You plan to retire in the next 30 years. At retirement, your goal is to spend five years travelling around the world. To achieve this, you want to place an annu
Describe couple of examples of standards in your daily life : Describe a couple of examples of standards in your daily life. For example, following the Student Code of Conduct requires you to follow rules
Essay that reflects your belief about a particular part : Reflects your belief or passion about a particular part of your professional experience. This project requires you to organize complex and divergent thoughts
Decision of the federal reserve bank : Explain how the decision of the Federal Reserve Bank (Fed) to raise interest rates would be expected to affect each component of the weighted average cost of ca
Prepare a differential analysis as of april : Prepare a differential analysis as of April 30 comparing operations using the present machine (Alternative 1) with operations
What is the yield to maturity for uber bonds : You are asked to value bonds of Uber (ticker UBER, S&P credit rating 'B'). Assume you noticed the following UBER (hypothetical) bond issue:

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is planet return on investment

Planet Company had operating income of $12,000, average operating assets of $125,000, and sales of $45,000. What is Planet's return on investment (ROI)

  What the spending variance for cleaning equipment

What The spending variance for cleaning equipment and supplies in April would be closest to? Pratte Boat Wash's cost formula for its cleaning equipment

  Compute equivalent units for chiptrail inc

Compute equivalent units. Show physical units in the first column of your schedule. Chiptrail Inc. is a? fast-growing manufacturer of computer chips.

  What is the total manufacturing overhead cost

What is the total manufacturing overhead cost using a flexible budget - The company had 90,000 direct labor hours.

  Simid sports-production budget

Near end of 2011, the management of Simid Sports Co., merchandising company, prepared the following estimated balance sheet for December 31, 2011: Simid Sports' single product is bought for $30 per unit and resold for $60 per unit.

  Demonstrate what transfer price would recommend

Compute What transfer price would you recommend if there was no outside market for the transferred component and the assembly division had spare capacity?

  How discontinuation of product line b affectnet income

Bubblemania has three product lines - A,B, and C. Product line B appears to be unprofitable, How would the discontinuation of Product line B affect net income?

  Calculate total actual material costs

A log of wood is purchased for costs R3,00. Calculate total actual material costs, including total ordering and total carrying costs for the 2021 at EOQ

  What was the annual compound rate of growth in the price

What was the annual compound rate of growth in the price of apples? (Do not round intermediate calculations. Enter your answer as a percent rounded)

  How much of the total setup costs would be allocated

If the setup costs are allocated using number of? setups, how much of the total setup costs would be allocated to boat? trailers

  How can an entry level manager affect continuous improvement

How can an entry level manager affect continuous improvement within a facet of operations management. Can you provide an example and outline a strategy?

  How do find the cost per equivalent unit for conversion

How do Find the cost per equivalent unit for conversion and the cost that should be assigned to Alpha' work in process inventory at the end of FY 2017

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd