Question

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).

  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?
0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
This discussion has two parts. Address both of the parts in a 400-600 word response (total...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following...

    Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. JavaScript is used in for client-side scripting of Web pages. JavaScript is very versatile and increases the interactivity of Web sites. Research online, and discuss the purposes and uses of JavaScript. Answer the following in...

  • Discuss the advantages of flexible budgets used by a company over static budgets as a tool...

    Discuss the advantages of flexible budgets used by a company over static budgets as a tool for planning and as a tool for control. Discuss the merits of each advantage. Please include examples so that we can assess your knowledge. (2) Management systems have three basic components : Planning, control, and feedback. In your response determine their relevance to management. (3) The following data relates to Merrick Ltd., a single product company who manufactures vaccines: Variances for October: DIRECT MATERIAL...

  • In response to intensive foreign competition, the management of Florex Company has attempted over the past...

    In response to intensive foreign competition, the management of Florex Company has attempted over the past year to improve the quality of its products. A statistical process control system has been installed and other steps have been taken to decrease the amount of warranty and other field costs, which have been trending upward over the past several years. Costs relating to quality and quality control over the last two years are given below: Sales have been flat over the past...

  • In response to intensive foreign competition, the management of Florex Company has attempted over the past...

    In response to intensive foreign competition, the management of Florex Company has attempted over the past year to improve the quality of its products. A statistical process control system has been installed and other steps have been taken to decrease the amount of warranty and other field costs, which have been trending upward over the past several years. Costs relating to quality and quality control over the last two years are given below: Inspection Quality engineering Depreciation of test equipment...

  • Book Example P7-38 (similar to) Katharine Austen is the owner of Quality Bikes, a company that...

    Book Example P7-38 (similar to) Katharine Austen is the owner of Quality Bikes, a company that produces high quality cross-country bicycles. Quality years Quality Bikes has purchased titanium from suppliers in the supply chain. Quality Bikes uses titanium for the bio year, Quality Bikes hired Michael Berkner, a recent graduate from State University, as purchasing manager. Michael (Click the icon to view the standard and actual information.) Read the requirements. Requirement 1. Compute the direct materials price and efficiency variances....

  • please answer both parts. Globe Enterprises is a very rapidly expanding con S is a very...

    please answer both parts. Globe Enterprises is a very rapidly expanding con S is a very rapidly expanding company, with the demand for each of its four having risen rapidly over recent years. In planning for next year Globe Enterprises developed an initial budget assuming that it would operate at a maximum capacity of 30,000 direct labour hours (lah ,000 direct labour hours (labour hours being its main production constraint). At this level of production all fixed overheads would be...

  • please read instructions on the first picture and follow it Discussion Board: Chapter 1 Due: Jun...

    please read instructions on the first picture and follow it Discussion Board: Chapter 1 Due: Jun 28, 2019 at 11:59 PM Please read the article titled Evolution of Operations Planning and Control: from production to supply chains In at least three paragraphs, describe how and why the focus of operations planning and control has changed over time. While one might argue that answers consisting of sentences quoted from articles do not represent plagiarism, I do not consider them acceptable, and...

  • please read instructions on the first picture and follow it Discussion Board: Chapter 1 Due: Jun...

    please read instructions on the first picture and follow it Discussion Board: Chapter 1 Due: Jun 28, 2019 at 11:59 PM Please read the article titled Evolution of Operations Planning and Control: from production to supply chains In at least three paragraphs, describe how and why the focus of operations planning and control has changed over time. While one might argue that answers consisting of sentences quoted from articles do not represent plagiarism, I do not consider them acceptable, and...

  • 2. The tollowing discussion focuses on the change in Timken has an 11 percent share of...

    2. The tollowing discussion focuses on the change in Timken has an 11 percent share of the world market for bearings. However, imports into the United States doubled to $1.4 billion in 2002 compared with $660 million in 1997. Timken believes that the uniqueness of its product helps protect it from foreign competition. However, the company still lobbied the Bush administration to top what it calls the dumping of bearings at low prices by foreign producers in Japan, Romania, and...

  • 2. The tollowing discussion focuses on the change in Timken has an 11 percent share of...

    2. The tollowing discussion focuses on the change in Timken has an 11 percent share of the world market for bearings. However, imports into the United States doubled to $1.4 billion in 2002 compared with $660 million in 1997. Timken believes that the uniqueness of its product helps protect it from foreign competition. However, the company still lobbied the Bush administration to top what it calls the dumping of bearings at low prices by foreign producers in Japan, Romania, and...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT