Please enable JavaScript.
Coggle requires JavaScript to display documents.
Standard Costing (Characteristics (Variances (Activity, Spending), Why?,…
Standard Costing
Characteristics
Why?
Standards
Variances
Activity
Spending
Journals
Material
Labour
Overhead
Variable
Fixed
Overview
Who is responsible?
Advantages
Manage by exception
Std's = benchmarks
Simplify accounting
Responsibility accounting
Problems
Outdated standards
Labour = variable?
Favourable may be bad
Meet std's vs. improve
Spending variances
Price
Quantity
Fixed OH variances
Budget
Volume
Reconciling variances
Favourable
Unfavourable