PLEASE HELP!!!
Discussion Board - Standard Costs \& Labor At A standard is a carefully determined price, cost or quantity that is used as a benchmark for evaluating performance. For this particular discussion I would like to focus on the standard cost of material and labor, as follows: 1. Standard material cost. There are a variety of ways to determine the standard cost for a material component of a product. Please research different methodologies relating to the assignment of standard material cost to product components. Prepare a summary of your findings utilizing this discussion board. 2. Standard labor cost. A standard is a carefully determined price, cost or quantity that is used as a benchmark for evaluating performance. For this particular discussion I would like to focus on labor. Labor is an important cost component of a product. Assuming hourly pay rates are determined by a collective bargaining agreement and there are different hourly rates for each specialized labor function. What hourly rates would you use to develop your standard labor cost? If you choose to use the collective bargaining rates how would you handle differences in pay rate changes as prescribed by collective bargaining and standard labor cost if rate changes do not coincide with the business year? Please research and prepare a summary of your findings utilizing the discussion board. Your grade on the discussion board is based on participation. However, in order to receive full credit for these posts, you must fulfill some basic requirements: - Posts should be a minimum of 200 words - Posts should be relevant to the topic being discussed; but, should also attempt to introduce a new point of view or piece of information or otherwise further the discussion. - Responses to (3) of your peers must be substantive and further the discussion. You will not receive points for responses of "I agree" or "Nice post." - Posts should use correct grammar, punctuation and vocabulary appropriate for a college-level course. Due Date: Post, Wednesday, Midnight and Responses, Sunday, Midnight Points: 100 points (55 points for main post and 15 points for each response to (3) totaling 45 points) Discussion Board - Standard Costs \& Labor At A standard is a carefully determined price, cost or quantity that is used as a benchmark for evaluating performance. For this particular discussion I would like to focus on the standard cost of material and labor, as follows: 1. Standard material cost. There are a variety of ways to determine the standard cost for a material component of a product. Please research different methodologies relating to the assignment of standard material cost to product components. Prepare a summary of your findings utilizing this discussion board. 2. Standard labor cost. A standard is a carefully determined price, cost or quantity that is used as a benchmark for evaluating performance. For this particular discussion I would like to focus on labor. Labor is an important cost component of a product. Assuming hourly pay rates are determined by a collective bargaining agreement and there are different hourly rates for each specialized labor function. What hourly rates would you use to develop your standard labor cost? If you choose to use the collective bargaining rates how would you handle differences in pay rate changes as prescribed by collective bargaining and standard labor cost if rate changes do not coincide with the business year? Please research and prepare a summary of your findings utilizing the discussion board. Your grade on the discussion board is based on participation. However, in order to receive full credit for these posts, you must fulfill some basic requirements: - Posts should be a minimum of 200 words - Posts should be relevant to the topic being discussed; but, should also attempt to introduce a new point of view or piece of information or otherwise further the discussion. - Responses to (3) of your peers must be substantive and further the discussion. You will not receive points for responses of "I agree" or "Nice post." - Posts should use correct grammar, punctuation and vocabulary appropriate for a college-level course. Due Date: Post, Wednesday, Midnight and Responses, Sunday, Midnight Points: 100 points (55 points for main post and 15 points for each response to (3) totaling 45 points)
