why is it important to consider the relationship among cost, quality, and selling prices when establishingstandards...
Homework Answers
The establishment of standard cost for direct materials involves the standard price of direct materials determination and standard quantity of direct materials determination. In calculating the direct materials standard price it considers all the costs that are included single unit of direct materials. When establishing standards for direct materials it is vital to consider the relationship among cost, selling prices and quality because production cost is an important determinant for fixing the selling prices of the goods and services. When the quality of the product is high, then the production cost will be high, thus the company has to increase the standard selling price to cover it's cost.
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is it important to consider the relationship among cost, quality,
and selling prices when establishingstandards...
This discussion has two parts. Address both of the parts in a 400-600 word response (total...
This discussion has two parts. Address both of the parts in a 400-600 word response (total for both). 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. Why is it important to consider the relationship among cost, quality, and selling prices when establishing standards for direct materials?
what is most important: cost, quality, or access and why?
what is most important: cost, quality, or access and why?
Why are prices important in a market when there are no price controls? a. Higher prices...
Why are prices important in a market when there are no price controls? a. Higher prices provide an incentive for demanders to decrease the amount they wish to demand. b. Prices bring about an equilibrium between the demanders and suppliers in a market. c. Higher prices provide a signal (an incentive) to suppliers that they should increase supply to meet the increased demand. d. All of the above
Based on cost of inflation, Agree or disagree with this post and why When prices rise,...
Based on cost of inflation, Agree or disagree with this post and why When prices rise, buyers pay more for the things they want. On the other hand, the sellers are getting more money for the things they sell. Many people earn money by selling their services whether its labor or goods. Their rise in income from the inflation evens out with the inflation of prices when they buy things. You also have menu costs, the cost of changing the...
McDonalds is known for selling quality products for low prices. This is an example of a...
McDonalds is known for selling quality products for low prices. This is an example of a successful _____business strategy. A vertical intergration B differentiation C cost leadership D niche
Chapter 3: Quality and Performance 1) Explain why quality is important, what are the benefits of...
Chapter 3: Quality and Performance 1) Explain why quality is important, what are the benefits of good quality and the consequences of poor quality. 2) Why is order of observation important in process control? 3) If all observations are within control limits, does that guarantee that the process is in control? Explain. 4) Briefly explain the purpose of each of these control charts: a. x-bar b. Range Chapter 12: Supply Chain Management 1) Explain the importance of supply chain visibility...
The stores sell ten different styles of yoga pants with identical unit costs and selling prices....
The stores sell ten different styles of yoga pants with identical unit costs and selling prices. A unit is defined as one pair of yoga pants. Each store has a manager who is paid a fixed salary. Individual salespeople receive a fixed salary and a sales commission. The company is trying to determine the desirability of opening another store, which is expected to have the following revenue and cost relationships: Per Pair Unit variable data: Selling price $60 Cost of...
Define then discuss why each of this term is important is important to consider when analyzing...
Define then discuss why each of this term is important is important to consider when analyzing the financial statements of a company: [6 marks] 3.4.1 Global economy 3.4.2 National economy 3.4.3 The industry
1. List the most important factor to consider when forecasting the supply of human resources. Why...
1. List the most important factor to consider when forecasting the supply of human resources. Why do you feel this is most important? 2. List the most important factor to consider when forecasting the demand of human resources, Why do you feel this is most important? 3. List the most important trend in the labor force that could have an impact on human resource planning. Why do you feel this most important?
Why is it important to classify costs into a cost hierarchy when it applies to the...
Why is it important to classify costs into a cost hierarchy when it applies to the ABC metbod?
1. List the most important factor to consider when forecasting the supply of human resources. Why do you feel this is most important? 2. List the most important factor to consider when forecasting the demand of human resources, Why do you feel this is most important? 3. List the most important trend in the labor force that could have an impact on human resource planning. Why do you feel this most important?
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