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.
A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) if the Canadian dollar is expected to depreci
what is the direct cost
QUESTION 1: PART A Swatathon Inc. has two production departments (A and B) and two service departments (maintenance and stores). Details of next year's budgeted overheads
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
Q. Show the Break-even charts? Refers graphically profit and losses at different levels of sales volume achieved. When sales revenue is greater than total cost it m
what are the advantages and disadvantages of marginal costs plus a fixed lump-sum fee?
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
Under a contract with the provincial government, ChemLabs Inc. analyzes the chemical and bacterial composition of well water in various municipalities in the interior of British Co
importance of classifying cost accounting
Reamer Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next ye
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