Variances are not explanations

Assignment Help Managerial Accounting
Reference no: EM13172939

Inc., as discussed in the chapter opener, uses a costing system with standard costs for direct materials, direct labor, and overhead costs.

Two comments frequently are mentioned in relation to standard costing and variance analysis: "Variances are not explanations" and "Management's goal is not to minimize variances."

Your responses must be 3-4 sentences long each and represent "active communication."

Reference no: EM13172939

Questions Cloud

Compute the molar solubility of bbarium sulfate : Calculate the molar solubility of bbarium sulfate, BaSO4, in 0.010 M Sodium Sulfate, Na2SO4, solution at 25C. Compare this to the solubility of BaSO4 in pure H2O. What is the common ion?
Prepare dated journal entries for abc corporation : In 2008, the U.S. SEC eliminated the U.S. GAAP net income reconciliation requirement for foreign private issuers that adopt International Financial Reporting Standards. Do you agree with this decision?
State si wafer is treated in phosphorus vapor : A Si wafer is treated in phosphorus vapor at 1000o C so that the phosphorus concentration at the surface is kept at the solubility limit of 1021/cm3.
Ideal gas is contained in a cylinder with a movable piston : One mole of an ideal gas is contained in a cylinder with a movable piston. The temperature is constant at 74°C. Weights are removed suddenly from the piston to give the following sequence of three pressures.
Variances are not explanations : Two comments frequently are mentioned in relation to standard costing and variance analysis: "Variances are not explanations" and "Management's goal is not to minimize variances."
Siver nitrate is sadded to a solution containing an salt : Siver nitrate is sadded to a solution containing an unknown salt. An off-white colored precipitate forms. Nitric acid is added to the mixture, the precipitate dissolves and a gas is given off. What is the anion present: Cl-, Br-, I-, PO4 3-, SO4 2..
What information does marco need to use the tools : Write a one page memo to Marco, in Word, answering the following questions and list three management tools that Marco can use to evaluate whether the new warehousing center will be a good investment.
How many radial nodes are present in radial eigenfunction : how many radial nodes are present in the radial eigenfunction associated with the 3p atomic orbital associated with the 3p atomic orbital for hydrogen like atom?
What is the value of temperature change : A student finds that during a reaction, the 150.g of water in the reaction cup warms from 21.0 Celsius to 28.5 degrees Celsius.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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