Discussion baord

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Unlyrr128

Business Finance

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Assignment Details

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?

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Discussion Board Questions
Question One
Standard Cost In Management Planning and Control
Question Two
Direct Material
References


Running head: DISCUSSION BOARD QUESTIONS

Discussion Board Questions
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DISCUSSION BOARD QUESTIONS

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Discussion Board Questions
Question One
Standard Cost In Management Planning and Control
Standard cost can be defined as an assessed cost of executing a process or producing a
good or service, under regular circumstances. The standard price can be categorized into three
namely: basic, ideal and attainable or current. Basic Standards refer to long-term standards that
do not change over time. Ideal Standards relate to standards that are attainable over certain
favorable conditions. Achievable standards are standards that are applied during the pricin...


Anonymous
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