Managerial Accounting Discussion
1. The analysis of standard cost systems begins with the development of standards for direct materials, direct labor, and manufacturing overhead. Discuss standard costs and indicate how they can be used by management in planning and control.
2. Why is it important to consider the relationship among cost, quality, and selling prices when establishing standards for direct materials?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.