Standard costs are useful tools for management because they
are based on realistic estimates of operating costs. Managers use them to develop budgets, to control costs, and to prepare
reports. Because of their usefulness in comparing planned and
actual costs, standard costs have usually been most closely associated with the performance evaluation of cost centers. In this
chapter, we describe how standard costs are computed and how
managers use the variances between standard and actual costs to
evaluate performance and control costs.
LEARNING OBJECTIVES
LO1 Define standard costs, explain how standard costs are
developed, and compute a standard unit cost. (pp. 1138–1142)
LO2 Prepare a flexible budget, and describe how managers use
variance analysis to control costs. (pp. 1142–1147)
LO3 Compute and analyze direct materials variances. (pp. 1147–1150)
LO4 Compute and analyze direct labor variances. (pp. 1150–1153)
LO5 Compute and analyze overhead variances. (pp. 1154–1161)
LO6 Explain how variances are used to evaluate managers’
performance.
0 0 0.2129092261904762 5 1 5 1 1 0 0 38 38 1 140 20 120 25 10 15 15 10 5 100 0 100 40 20 60 60 20 40 50 20 30 4.68 0.68 4 100 40 60 140 20 120 25 10 15 15 10 5 100 0 100 40 20 60 60 20 40 50 20 30 4.68 0.68 4 100 40 60 1 0 0 12 12 1 0.2857142857142857 0 35 14 49 52500 180000 43500 160000 0.29170000000000001 0.27189999999999998 0.2857142857142857 180000 173900 2 160000 157900 2 157900 52500 180000 43500 160000 0.29170000000000001 0.27189999999999998 180000 173900 163900 2 160000 163900 157900 2 1.07 0.99 52500 173900 163900 2 43500 163900 157900 2 0.31080000000000002 0.27039999999999997 52500 0.12 173900 163900 2 43500 0.12 163900 157900 2 32232 24192 34650 0.08 173900 13900 28710 0.08 163900 10000 21850 16398 0 0 13 0 13 0 10.199999999999999 5 51 10.75 0.2 2.15 7 3 21 11 3 33 107.15 0 0 22 0 10000 12000 14000 22 0 10000 12000 14000 100000 120000 140000 10 30000 36000 42000 3 50000 60000 70000 5 180000 216000 252000 18 80800 80800 80800 260800 296800 332800 0.1 0 9 1 10 0.1 1 0.96 305000 12200 1.2 1.2 50200 0 0 0 10 0 10 0 1 300000 305000 5000 1.2 50000 50200 240 0 0 5 0 5 0 14 14.4 40250 16100 0 0 5 0 5 0 14 40000 40250 3500 0 0 5 0 5 0 4 40250 161100 100 0 0 6 0 6 0 4 40000 4 40250 1000 0 0 4 0 4 0 240000 242000 2000 0 0 5 0 5 0 6.4 40000 240000 16000 2.0833333333333332E 2 0 47 1 48 2.0833333333333332E 2 46875 50000 300000 292800 7200 12200 5000 60000 60240 240 0 240 560000 579600 19600 16100 3500 160000 161100 1100 100 1000 256000 242000 14000 2000 16000 1336000 1335740 260 260 0 0 12 0 12 0 Name: Instructor: Date: Course/Section: Score: # Incorrect N box and B box entries COUNTIF(B7:AT41,”~*”) Total …
Attachments:
Needles 2011 ….pdf
ComptonR ACCT….xlsx