What is quantity standard and the price standard

Assignment Help Financial Management

Reference no: EM131939057

While looking at budgeting this week, we encountered numerous forms of variances (the difference between a standard and the actual cost). We read how variances can be favorable (the company makes money) or unfavorable. Sometimes, a favorable variance leads to an unintended negative consequence (such as when a burger joint uses less meat in its patties, which causes dissatisfied customers who fail to return to the restaurant). Now you come up with an example of variances. Think of a company that is manufacturing a product. What kind of materials are required? What is the standard for employee productivity? What are the alternatives for cheaper materials and labor? Provide enough information in your example so that your peers can answer the following questions:

What is the quantity standard and the price standard in your peer’s example?

Reference no: EM131939057

Questions Cloud

How does proposed corporate tax rate reduction impact : How does a proposed corporate tax rate reduction impact your capital structure decisions in your opinion?

Determine dividends per share for preferred and common stock : Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places

Democracies as a means to empower different groups : Devolution the process by which power is granted to lower levels of government, occurs in both new democracies dealing with issue of inclusion

Compute the standard error of the average : Compute the standard error of the average. Use the standard error to set a 95% confidence interval for the mean pulse rate of distance runners.

What is quantity standard and the price standard : What is the quantity standard and the price standard in your peer’s example?

Journalize the entries to record the transactions : Declared cash dividends of $3.00 per share on preferred stock and $0.06 per share on common stock. Journalize the entries to record the transactions

Worst the mean contamination : Place a one-sided 99% confidence limit on the worst the mean contamination might be.

Developed new type of widget : The Sterling Corp. has developed a new type of widget. The manager would like to cut costs as much as possible and comes to you for advice.

Journalize the bond issuance : On the first day of the fiscal year, a company issues a $3,800,000, 9%, Journalize the bond issuance

User Account

All Pages