Explain how standard costs can be used in a service business. LO.1
Question:
Explain how standard costs can be used in a service business.
LO.1
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Cost Accounting Principles And Applications
ISBN: 9780028034287
6th Edition
Authors: Horace R. Brock, Linda Herrington
Question Posted:
Students also viewed these Business questions
-
Give an integral that represents the volume of a sphere of radius 1
-
To be solved by DKetan. Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages...
-
In Chapter 3, you were introduced to 3 types of costs associated with a manufactured product ? direct materials, direct labor, and manufacturing overhead. Explain how these costs are associated with...
-
You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $10 million. Investment A will generate $2 million per year (starting at the end...
-
In the article "Sleep Apnea in Adults With Traumatic Brain Injury: A Preliminary Investigation" (Archives of Physical Medicine and Rehabilitation, Vol. 82, Issue 3, pp. 316-321), J. Webster et al....
-
True or False. The tests for symmetry in polar coordinates are necessary, but not sufficient.
-
14
-
Bigelow Corporation has total assets of $850,000, sales of $1,350,000, and one class of common stock with 375 shareholders, and a class of preferred stock with 250 shareholders, both of which are...
-
Use the following information for the Exercises below. (Algo) 1 The following information applies to the questions displayed below.) The first production department in a process manufacturing system...
-
If standard costs are used in a service business, can the variance between actual costs and standard costs be analyzed into component parts? Explain. LO.1
-
In making a business decision, what consideration must be given to fixed costs? LO.1
-
Blue Jay, Inc., manufactures and sells computer monitors with a three-year warranty. Warranty costs are expected to average 7% of sales during the warranty period. The following table shows the sales...
-
5.Descibe the HSI color image model 6. Describe the basic relationship between the pixels
-
1. What is the need for transform? 2. What is Image Transform? 3. What are the applications of transform? 4. Give the Conditions for perfect transform . 5. What are the properties of unitary...
-
6. Define Fourier transform pair 7. Define Fourier spectrum and spectral density 8. Give the relation for 1-D discrete Fourier transform pair 9. Specify the properties of 2D Fourier transform. 10....
-
16. What is wrap around error? 17. Give the formula for correlation of 1D continuous function. 18. What are the properties of Haar transform. 19. What are the Properties of Slant transform 20....
-
21. Define fast Walsh transform. 22. Give the relation for 1-D DCT. 23. Write slant transform matrix SN. 24. Define Haar transform. 25. Define K-L transform. 26. Give the equation for singular value...
-
Consider the filter shown in figure (a) Determine its system function. (b) Sketch the pole-zero plot and check for stability if (1) b 0 = b 2 = 1, b 1 = 2, a 1 = 1.5, a 2 = - 0.9 (2) b 0 = b 2 = 1, b...
-
The bookkeeper for Riley, Inc., made the following errors: a. A cash purchase of supplies of $357 was recorded as a debit to Supplies for $375 and a credit to Cash of $375. b. A cash sale of $3,154...
-
[ The following information applies to the questions displayed below ] Nauticat has two classes of stock authorized: $ 1 0 par preferred, and $ 1 par value common. As of the beginning of 2 0 2 1 , 1...
-
Selling is not the most important part of marketing. Explain why not
-
When direct materials are issued from the storeroom, are any entries made in the subsidiary records? Question 2 options: Increase raw material item record Decrease raw material item record No entry...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App