--%>
Assignment Help - homework help

Merits of standard costing

Write down the merits of standard costing?

E

Expert

Verified

-It offers a standard for evaluating the effectiveness or ineffectiveness in performance.

-It makes easy the essential management purpose of cost control.

-It sets a normal that wants superior attempt and motivation to work to accomplish the same.

-It can be employed as a basis for price filing the tenders, fixation and submission the quotation.

-It makes easy allocation of authority and fascination of responsibility for each and every department or individual.

-To take the counteractive evaluates, the management requires evaluating the discrepancy from the standard.

-It gives means to promote acts to diminish cost.

   Related Questions in Financial Accounting

  • Q : Balance sheet A listing of the

        A listing of the liabilities, assets, and equity of an entity at a point in time, the end of a month, or quarter, or year. It is one of the four financial statements required in a full financial report. The balance sheet gives the reader what the entity owns (assets)

    		•
  • Q : Interference of two light waves Find

    Find and make a graph of the light intensity distribution at the interference between 2 laser beams. The data parameter are : Question Each beam has a equal diameter of 20 micro meter The angle

    		•
  • Q : International bonds Explain why most of

    Explain why most of the international bonds have high Moody’s or Standard & Poor’s credit ratings?

    		•
  • Q : Explain production budget Give a short

    Give a short introduction of the term ‘production budget’?

    		•
  • Q : Exchange rate changes decreases risk of

    Would exchange rate changes always raise the risk of the foreign investment? Explain some of the condition under which exchange rate changes can actually decrease the risk of foreign investment.

    		•
  • Q : Explain the term Company Explain the

    Explain the term Company in reference to Accounting?

    		•
  • Q : Trading A CD/$ bank trader is presently

    A CD/$ bank trader is presently quoting a small figure bid-ask of 35-40, while rest of the market is trading at the CD1.3436-CD1.3441.  Specify what all is implied about trader’s beliefs by his prices?

    		•
  • Q : Accounting Treatment of Expenditures

    Describe the term Accounting Treatment of Expenditures? Why it is used.

    		•
  • Q : What are equipment expenses What is

    What is equipment expense or what are equipment expenses?

    		•
  • Q : Recommended action for GM to manage its

    General Motors exports the cars to Spain however the strong dollar against the peseta, hurts the sales of GM cars in the Spain. In Spanish market, GM faces the competition from the French and Italian car makers, like Renault and Fiat, whose currencies stays stable wit

    		•