chapter 7 Standard Cost System

Anonymous
timer Asked: Jan 2nd, 2018
account_balance_wallet $5

Question description

Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective. Your initial post should be 200-250 word and apa format

Tutor Answer

PhDjack
School: Duke University

Attached is the answer.please review. Let me know if you have nay question.

Running Head: STANDARD COST SYSTEM

1

Standard cost system
Student Name
Professor Name
Course
Date

STANDARD COST SYSTEM

2

In the field of accounting, standard cost means predetermined cost that an organization
anticipates to incur in future. Standard costs are determined by assessing direct labor, direct
materials, and overheads. In manufact...

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Review

Anonymous
Awesome! Exactly what I wanted.

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