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!
Types of Standard Costs
The standard cost set could be ideal, basic, attainable or current.
i. Basic Standards: These are long term standards that would keep unchanged over the years. This sole needs to show trends over time for those items as material prices, labour rates, efficiency etc. Therefore they cannot be used to highlight current inefficiency or efficiency; for this causes, basic standards do abnormally form part of the reporting system and will consequently be used as a background for statistical analysis over time.
ii. Ideal Standards: These are standards that can be achieved under the most favourable situations. They are therefore based on the best possible operating conditions. Therefore they do not make allowances for usual production problems as like material spoilage, idle time, stoppages, machine breakdowns, shrinkage. They can be revised periodically to reflect changes in the organizations operating situations. As an example: changes in technology. Though, the ideal standards assume perfect operating conditions, since they would be unattainable in real life that has normal operating problems. As like idle time and machine breakdown, idle time and employee slowdown because of fatigue.
What are the missing amounts for the below amortization table, given the following information? - A firm borrows $100,000 from a bank. - The terms of the loan require the f
Fixed Overheads Variance This is defined like the difference between the fixed overheads attributed and the standard cost of fixed overheads absorbed in the production achieve
tHE FIRST SECTION ASSIGEMTN ANSWER FOR HAMPSHIR COMPANY DECISIONS
G. Mills was appointed a local agent for the High Power Mobile Workshop Bolt (HPMW-B) on 1 April 2009. The HPMW-B is manufactured by Mobile Equipment Ltd (MEL). The company charges
1. Shares were certified at a premium of Rs. 1.50' per share. 2. Throughout the year Taxation liability regarding of 2002 was Rs, 20,000 and paid. 3. Throughout the year, Rs.
on the first day of the current fiscal year $2,000,000 of 10 year 7% bonds with interest payable annually, were sold for $2,125,000. Present enteries to record the following transa
Methods of Cost Estimation We will consider given cost estimation methods commonly employed, namely as: a. High Low Activity method b. Engineering Analysis c. Account
Assume the same facts as in 1A above, except that the interest payment checks were placed on the shareholders' office on December 31, 2012. However, the shareholders are not in the
Example of High - Low Method of Cost Estimation Based on the performance, such you have been provided along with the given information regarding ABC Ltd for the year ended on
Cost Accounting Cost accounting has been defined via many accounting scholars in different forums. There is no single watertight definition of cost accounting, however the var
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