graceugo462 graceugo462

29-06-2024
Business

Answered

When is standard costing applied?

Answer :

GinnyAnswer GinnyAnswer

29-06-2024

Final answer:

Standard costing is used to compare predetermined costs with actual costs to analyze performance and make decisions in businesses.

Explanation:

Standard costing is applied in situations where predetermined costs are compared to actual costs to analyze performance and make decisions. It involves setting predetermined costs based on factors like labor, material, and overhead costs. If actual costs vary from standard costs, variances are calculated and analyzed to understand the reasons for deviations.

For example, if a company sets a standard cost of [tex]$5 for producing a unit of a product but actually incurs $[/tex]6 per unit, a favorable or unfavorable variance is identified and investigated. Standard costing provides a benchmark for cost control and performance evaluation in businesses.

Learn more about Standard costing in business here:

https://brainly.com/question/51149289

Answer Link

Other Questions

[tex]$ 7.5 y^4 \cdot 9 y^2 $[/tex]a. [tex]$67.5 y^6$[/tex] b. [tex]$16.5 y^2$[/tex] c. [tex]$16.5 y^6$[/tex] d. [tex]$67.5 y^8$[/tex]

For the sequence [tex]a_n = 3n - 5[/tex], what is the value of [tex]a_{10}[/tex]?Answer here: __________

Question 18 (2.5 points)Who is responsible for updating and maintaining Personal Health Records?A. Physician B. Hospital where services were given C. Insuranc

A rectangle has sides measuring [tex]$2x + 7$[/tex] units and [tex]$5x + 9$[/tex] units.Part A: What is the expression that represents the area of the rectangle

Unit Pre TestSelect the correct answer from each drop-down menu.Which test point holds true for the inequality [tex]\frac{2}{3} x-2 y \geq 1[/tex]? Where does t

Which of these is true during the process of falling asleep?A. The SCN tells the pineal gland to start producing melanin during waking hours.B. External light c

Please solve the following assignment

A nurse is caring for a child who has a ruptured appendix. Which of the following positions show encourage the child to maintain?A. SupineB. Semi-Fowler'sC. Sim

The following APA paraphrase citation formatting is correct: Some argue that relying too much on the Internet for information might hinder our mental capacities

De la función trigonométrica [tex]f(x)=3 \operatorname{Sen}\left(2 x-\frac{\pi}{2}\right)+4[/tex], podemos afirmar:A. Período [tex]=\pi[/tex], Amplitud [tex]=3[

How did geographic differences between regions (New England, Southern, and Midwestern colonies) lead to economic differences between them?

Which of the following was not a result of the Mexican-American War? Select one: a. Texas gained its independence from Mexico. b. The United States purchased a

In the book peak by Roland Smith what does Peak give Zopa! Thx

solve this equation 3x+5y=26 2x-y=13

1. A square floor tile has an area of (x2 + 8x +16) in2. The side length of the tile is of the form cx + d, where c and d are whole numbers. a. Find the express

52.5% of what number is 25.83?

5:4 clown fish to angel fish ratio of angel fish to gold fish 4:3. There is 60 clown fish. How many angel fish are there? How many goldfish are there?

Which of the following was not a result of the Mexican-American War? Select one: a. Texas gained its independence from Mexico. b. The United States purchased a

Jason is driving at 55 mph. He needs to keep his car within 5 miles per hour of his current speed. Write and solve an absolute value equation to find Jason's

Most people in the Ottoman Empire were Sunni Muslims while most people in the Safavid Empire followed Shi'ite Islam. What was the result of this cultural differ