What is the primary benefit of a standard costing system

Assignment Help Cost Accounting
Reference no: EM132835838

Problem 1: What is the primary benefit of a standard costing system?

Select one:

a. It allows for a comparison of differences between actual and standard costs

b. It is inexpensive and easy to use.

c. It records costs at what should have been incurred

d. It is easy to implement

Reference no: EM132835838

Questions Cloud

Dt6-corporate role models : Chapter 6 (values-based moral leadership) and this class offer us an opportunity to reflect on the basic tenets behind this country, beyond our system of commer
What are the necessary adjusting journal entries : On January 1, 2018, Matatag Corporation acquired 20,000 shares of ABC Corp at P10 per share, What are the necessary adjusting journal entries
How many units were started and completed during the period : How many units were started and completed during the period? The Finishing Department had 5,500 incomplete units in its beginning Work-in-Process Inventory
Describe impact of policy or services on targeted population : Student will develop a presentation of a policy pioneer assigned to them. Details will include a brief biography of the pioneer, policies and services created.
What is the primary benefit of a standard costing system : What is the primary benefit of a standard costing system? It allows for a comparison of differences between actual and standard costs
Identify research-based instructional strategies : Teachers of ELLs use a variety of instructional strategies that facilitate multiple forms of communication in the classroom. Multiple forms of communication.
Plot the data in the order of the dates : Management recently became aware of rising expenses results from returns of malfunctioning products. Plot the data in the order of the dates
How you can involve the children family or community : Discuss how you can involve the children's family or community to extend the learning for one of your strategies you proposed above.
Which design thinking tool will likely help in redesigning : Which Design Thinking tool will most likely help in redesigning the work processes? A Product Manager in a business-to-business market wants

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

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