Question Description
I’m trying to learn for my Accounting class and I’m stuck. Can you help?
Explain how you think standard costs and variance analyses could help managers in Saudi Arabia achieve the goals of Vision 2030.

Explanation & Answer

Attached.
Running head: ACCOUNTING
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Accounting
Name
Saudi Electronic University
ACCOUNTING
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Standard Cost and Variance Analyses
The estimates of the amount of money or expenditure on production or service provision, as stated
by any company is called standard cost. In simple terms, it is the theoretical expense that a
company expects to apply in the production of a particular product or giving service. Variance, on
the other hand, is one of the critical gauges used in the allocation of assets in any given company.
It is the tool used to understand the changes in resources in any production process. Standard cost
and variance together enable the manages to provide a right and clear track of the expenditures
within a given company or firm (Obaidullahn et al., 2019). Analysis of the two parameters is,
therefore, essential for any institution that needs proper management and control of its assets and
other monetary operations.
Saudi Arabia, as a country h...
