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What is the difference between a cost center and a profit

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Question

Annapolis Company completes job #601 which has a standard of 630 labor hours at a standard rate of $18.80 per hour. The job was completed in 600 hours and the average actual labor rate was $19.40 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

What is the difference between a cost center and a profit center? Give a complete answer that demonstrates what critical element distinguishes the profit center from the cost center.

Describe the difference between a centralized and a decentralized management style ?

Reference no: EM132344112

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