Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. could you explain and give the example to me the a

Could you explain and give the example to me the advantages of standard costing fllowing...

60.1K

Verified Solution

Question

Accounting

Could you explain and give the example to me the advantages of standard costing fllowing 3 ideas

1. Computation of standard costs and cost variance enables manager to employ management by exception.

2. Variances provide means of performance evaluation and provide motivation for employees.

3. Use of standard costs in product costing result in more stable product costs than if actual production cost are used.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A pension fund manager is considering three mutual funds. The first is a stock fund, the...

Finance
Q

Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large,...

Finance
Q

Arlington Clothing, Inc., shows the following information for its two divisions for year 1: Lake Region...

Accounting
Q

Reflect on the seven aspects of organizational culture. Which of these do you see most strongly...

General Management
Q

Interpret: A boat is looking for a safe passage from the beach at the top...

Biology
Q

Find all solutions of the given equation Enter your answers as a comma separated list...

Geometry
Q

- If initial velocity of a particle is 40 m/s and it is moving in...

Basic Math
Q

8 pts Solve the system of equations You may use any method of your choice...

Algebra
Q

Alison and Blake Alban married in June 23,2017. Unfortunately, the marriage failed and the parties...

Accounting
Q

Deriving Government-Wide Financial Statements and Required Reconciliations: This question is from Chapter 14 of Governmental...

Accounting
Q

ct.html apter 6 - Homework Saved 4 Starfax, Inc, manufactures a small port that is...

Accounting
Q

What procedures, if any, do you need to perform relative to the use of nonfinancial...

Accounting