Give three benefits of a standard cost system.
Question:
Give three benefits of a standard cost system.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
Standard cost systems offer several advantages over actual cost systems making them beneficial for various organizations Here are three key benefits 1 ...View the full answer
Answered By
Munibah Munir
I've done MS specialization in finance’s have command on accounting and financial management. Forecasting and Financial Statement Analysis is basic field of my specialization. On many firms I have done real base projects in financial management field special forecasting. I have served more than 500 Clients for more than 800 business projects, and I have got a very high repute in providing highly professional and quality services.I have capability of performing extra-ordinarily well in limited time and at reasonable fee. My clients are guaranteed full satisfaction and I make things easy for them. I am capable of handling complex issues in the mentioned areas and never let my clients down.
4.60+
467+ Reviews
648+ Question Solved
Related Book For
Horngrens Accounting The Managerial Chapters
ISBN: 9781292105871
11th Global Edition
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Business questions
-
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...
-
Portray in words what transforms you would have to make to your execution to some degree (a) to accomplish this and remark on the benefits and detriments of this thought.You are approached to compose...
-
QUIZ... Let D be a poset and let f : D D be a monotone function. (i) Give the definition of the least pre-fixed point, fix (f), of f. Show that fix (f) is a fixed point of f. [5 marks] (ii) Show that...
-
The light bulbs produced by Edison Lighting Corporation last an average of 300 h. The life of the light bulbs is believed to follow a normal distribution with a standard deviation of 10. A customer...
-
The point is on the terminal side of an angle in standard position. Find the exact values of the six trigonometric functions of the angle. 1. (5, 12) 2. (8, 15)
-
Company C. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021. The residual value of the equipment is 10,000. At 12/31/2021...
-
Using your school library or Google, locate a SWOT analysis for a brand you currently use. For each section, list an additional item that was not part of the initial analysis and discuss why you...
-
Effective December 31, 2010, Zintel Corporation proposes to issue additional shares of its common stock in exchange for all the assets and liabilities of Smith Corporation and Platz Corporation,...
-
Grocery Corporation received $315,945 for 11.00 percent bonds issued on January 1, 2021, at a market interest rate of 8.00 percent. The bonds had a total face value of $263,000, stated that interest...
-
How does cost variance differ from efficiency variance?
-
Who are responsible for setting cost standards and efficiency standards for direct labor?
-
Calculate the present value of each of the following income streams using a 5% discount rate: a. An income stream of $1,000 per year for 20 years. b. An income stream of $1,000 per year for years...
-
Safeway, Inc., operated 1,739 stores as of January 3, 2009. The following data were taken from the company's annual report. All dollar amounts are in thousands. Required a. Compute Safeway's...
-
Rich French, the owner of Rich's Fishing Supplies, is surprised at the amount of actual inventory at the end of the year. He thought there should be more inventory on hand based on the amount of...
-
Carol Lapaz owned a small company that sold boating equipment. The equipment was expensive, and a perpetual system was maintained for control purposes. Even so, lost, damaged, and stolen merchandise...
-
The following footnote related to accounting for inventory was taken from the 2008 annual report of Wal-Mart, Inc. Inventories The Company values inventories at the lower of cost or market as...
-
Plot the magnitude and phase of the frequency response of normalized n-th order lowpass Butterworth filters.
-
What molecular formula corresponds to each of the following structural formulas? a. b. c. d. H-C-C-C-H glycerol H- Si-Si-H disilane H-N-O-H hydroxylamine F-S-F sulfur tetrafluoride
-
Distinguish between the work performed by public accountants and the work performed by accountants in commerce and industry and in not-for-profit organisations.
-
Select the best alternative among the following five alternatives. Assume the investment is for a period of 4 years and P = $10,000. (a) 11.98% interest rate compounded continuously (b) 12.00%...
-
What single amount on October 1, 1997, is equal to a series of $1000 quarterly deposits made into an account? The first deposit occurs on October 1, 1997 and the last deposit occurs on January 1,...
-
You are taking a $2000 loan. You will pay it back in four equal amounts, paid every 6 months starting 3 years from now. The interest rate is 6% compounded semiannually. Calculate: (a) The effective...
-
Read the following and then answer the questions below:September 12: A Brisbane business offers by letter to sell 500 tyres to a New Zealand company. The Brisbane company does not specify a method of...
-
Fred returns home from work one day to discover his house surrounded by police. His wife is being held hostage and threatened by her captor. Fred pleads with the police to rescue her and offers...
-
Would like you to revisit one of these. Consideration must be clear and measurable.if you can't measure it then how can you show it has / has not been done?How can you sue someone for breach of...
Study smarter with the SolutionInn App