Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assignment of Variance in Variance Calculation
In variances calculating, the calculations require to be detailed sufficient hence the responsibility for the variance can be assigned to a particular individual. It is necessary since it would be almost not possible to control costs if the responsibility for a specific variance is spread among many managers as each of them will "pass the buck" or reject to accept personal responsibility for the variance.
As an example: the material cost variance can be analyzed into usage variance and price variance.The usage variance is the responsibility of the foreman or production manager utilizing those materials, whereas the price variance is the responsibility of the purchasing manger.
The above example demonstrates how variance analysis is employed to attach responsibility for cost variances to individuals. Those individuals cannot claim such they are not responsible for the variances arising. Conversely, to be able to attach that responsibility, the costs must be controllable via the concerned individuals. Because of tendency of budgetary control and standard costing variance analysis responsibilities to individuals, it is normally referred to as responsibility accounting. However where departments are interdependent, then responsibility accounting may not be straight forward because of inefficiencies or efficiencies brought in from other departments.
A small company employing around 25 people manufactures and sells anthropometric measuring equipment - equipment used mainly in hospitals to measure the height and other dimensions
DIFERENCE BETWEEN MARGINAL AND DIFFERENTIAL COSTING
Relationship among management accounting and cost accounting Referring to CIMA's definition for cost accounting, we can determine cost accounting is a part of management accou
What are the benefitss and drawbacks of standard costing?
Explain the value attached to this common exercise undertaken by Accountants.
You want to have $2,000,000 in your retirement account (IRA) at the end of 30 years. You hope to earn 6% per year. How much must you save each year?
1. The table below gives data for Southland where there are three consumption goods: bananas, coconuts and grapes. Goods Quantity in base period basket
material ledger card.following transactions affecting material No115-8 occurred during march 1992. march 1 balanced on hand 500 [email protected] per gallon maech 2 received 1200 gall
raw an organization chart of any actual or hypothetical manufacturing organization to show the position of management/cost accounting department within an organization and discuss
This is difficult to perceive cash maintained in the vault as an investment. Fairly, you would be thinking that if we invest cash, then how can cash itself be an investment? Howeve
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd