Why are estimates compared to actual cost or standard cost?Explain
Fantastic news! We've Found the answer you've been seeking!
Question:
Why are estimates compared to actual cost or standard cost?Explain
Expert Answer:
Answer rating: 100% (QA)
Estimates are compared to actual costs or standard costs for several reasons 1 Performance Evaluation By comparing estimated costs to actual costs bus... View the full answer
Posted Date:
Students also viewed these general management questions
-
Using the article Comparing Crime Rates between Undocumented Immigrants, Legal Immigrants, and Native-born US citizens in Texas, write a 2-3 page-paper (double-spaced, 1-inch margins, times roman...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
LLJ Satellites: Variance Analysis and Budgeting Jack Childs is nervous about his company's future performance. The Childs family own 40% of the shares of LLJ Satellites, and generally has control...
-
Hi,Please answer no.5 and 6 only. This is my 3rd time to uploadthis question. Thank you so much! Bay Lake Mining Ltd. purchases earth-moving equipment on 1 August \( 20 \times 6 \) and signs a...
-
Trent Inc. needs an additional worker on a multiyear project. It could hire an employee for a $65,000 annual salary. Alternatively, it could engage an independent contractor for a $72,000 annual fee....
-
The following is from the 2018 annual report of Kaufman Chemicals, Inc.: Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:...
-
Consider an economy with ex ante symmetric, risk-neutral individuals of mass 1, living for two periods with an additive, linear utility function on consumption goods (both durable and nondurable). At...
-
Mark Collins, luthier and businessman, builds and sells custom-made acoustic and electric stringed instruments. Although located in Maryville, Tennessee, he purchases raw materials from around the...
-
Lyndia Company is a merchandiser that sells a total of 15 products to its customers. The company provided the following information from last year: Product Unit Sales Selling Price per Unit Variable...
-
Can management have a significant influence on its cost of capital? Why? -Suppose that you are evaluating three R&D projects within your division of a technology firm. Two projects involve follow-on...
-
Briefly explain each of the following: ( a ) The need for Development Approval Orders ( b ) The need for Double Taxation Agreements ( c ) The procedure for taxpayer objection and appeals in...
-
What jobs are available within the payroll accountant field? What education, experience, and other requirements are needed?
-
Provide the definition of the following attacks and explain which part of C.I.A (Confidentiality, Integrity and Availability) is violated, and why? a. Denial-of-Service (DoS) attack b. A...
-
How can the pervasive skepticism among a significant portion of the Ugandan population regarding the efficient utilization of collected taxes contribute to the prevalent issues of tax evasion and...
-
State the theoretical principle on which each of the following air pollution control devices operates. (please answer all) a. absorption column (either a packed tower or plate tower) b. adsorption...
-
Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...
-
2.) Find the Laplace transform of f(t) 7e-St cos 2t +9 sinh2 2t. Use Laplace Table. %3D
-
A company acquires equipment on January 10, 2005, at a cost of $42,000. Straight-line depreciation is used with a five-year life and $7,000 salvage value. On June 27, 2006, the company sells this...
-
hsteban Co. owns a machine that costs $38,400 with accumulated depreciation of $20,400. Esteban exchanges the machine for a similar but newer model that has a market value of $48,000. Record the...
-
Eastman Company reports the following ($ millions): net sales of $13,557 for 2005 and $12,670 for 2004; end-of-year total assets of $14,968 for 2005 and $18,810 for 2004. Compute its total asset...
Study smarter with the SolutionInn App