Solution manual cost management HMCost3e SM ch09

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Nội dung chi tiết: Solution manual cost management HMCost3e SM ch09

Solution manual cost management HMCost3e SM ch09

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

Solution manual cost management HMCost3e SM ch09 is. Unit standards serve as inputs in building budgets.2The quantity decision is determining how much input should be used per unit of output. The pri

cing decision determines how much should be paid for the quantity of input used.3Historical experience is often a poor choice for establishing standar Solution manual cost management HMCost3e SM ch09

ds because the historical amounts may include more inefficiency than IS desired.4Ideal standards are perfection standards, representing the best possi

Solution manual cost management HMCost3e SM ch09

ble outcomes. Currently attainable standards are standards that are challenging but allow for inefficiency. Currently attainable standards are often c

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

Solution manual cost management HMCost3e SM ch09 n locate areas where change or corrective behavior is needed6Managers generally tend to have more control over the quantity of an input used, rather t

han the price paid per unit of input.7The materials price variance is often computed at the point of purchase rather than issuance because it provides Solution manual cost management HMCost3e SM ch09

control information sooner. If the variance is computed at the point of issuance and a problem is detected, this problem could have been ongoing for

Solution manual cost management HMCost3e SM ch09

weeks or months (depending on how long the direct materials were in inventory before being used).8Disagree A direct materials usage variance can be ca

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

Solution manual cost management HMCost3e SM ch09 r-priced workers to perform lower-skilled tasks is an example of an event that will create a direct labor rate variance that is controllable.10Ineffic

ient direct labor, machine downtime, bored workers, and poor quality direct materials are possible causes of an unfavorable direct labor efficiency va Solution manual cost management HMCost3e SM ch09

riance11Part of a variable overhead spending variance can be caused by inefficient use of overhead resources.12The volume variance is caused by the ac

Solution manual cost management HMCost3e SM ch09

tual volume differing from the expected volume used to compute the predetermined standard fixed overhead rate. If the actual volume is different from

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

Solution manual cost management HMCost3e SM ch09 rge, then the loss or gain is large since the volume variance understates the effect.13Control limits indicate how large a variance must be before It

is judged to be material and the process IS out of control. Current practice sets the control limits subjectively and bases them on past experience, i Solution manual cost management HMCost3e SM ch09

ntuition, and judgment.14All three approaches break the total overhead vanance into component variances. The four-variance approach divides overhead i

Solution manual cost management HMCost3e SM ch09

nto fixed and variable categories (based on unit-level behavior). It computes the vanable overhead spending and efficiency variances and (he fixed spe

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

Solution manual cost management HMCost3e SM ch09 ur-variance approach) and the vanable efficiency and fixed overhead volume variances (same as those of the four-variance analysis). The two-variance a

uplicated, or posted to a publidyaccessible websne, in whole or in panvariances and the variable overhead efficiency variances, and a volume variance,

Solution manual cost management HMCost3e SM ch09

vvtuch IS identical to that computed using a four-variance analysis.15The direct materials usage and direct labor efficiency variances can be broken

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi

r duplicated, ot pasted to a pcbliclyaocesdbte website, in whole Solution manual cost management HMCost3e SM ch09

d:SỌ Unit quantity standard X Actual output 6.2 X 980 6,076 quarts2.Direct labor hours allowed:SH Unit labor standard X Actual output (24/60) X 980

Solution manual cost management HMCost3e SM ch09

0.4 X 980 392 direct labor hours

CHAPTER 9 STANDARD COSTING: A FUNCTIONAL-BASED CONTROL APPROACHDISCUSSION QUESTIONS1standard costs are essentially budgeted amounts on a per-unit basi