Standard Costing

1.fixation.

Are there two ways of fixing the price for Europe?

2.actual cost.

Inventory is valued at actual cost whenever possible.

3.benchmark.

This benchmark measures the performance of the CPU using multiple threads.

1. Through the costs it is possible to determine the profit margin of the company and, therefore, the real results of the operation of the entity are known. In this sense, the costs are defined in an indispensable tool to evaluate the organization as a whole.

2.

The standard cost system allows evaluating the productive efficiency of the organization, developing a budget plan, facilitating cost control and detecting deviations.

1-It is necessary for companies to know the real cost of their production system so that they can make decisions that are more adjusted to the reality of the business.

2- The standard cost system allows evaluating the productive efficiency of the organization, developing a budget plan, facilitating cost control and detecting deviations.

What is the importance of standard costs?

The standard cost system allows evaluating the productive efficiency of the organization, developing a budget plan, facilitating cost control and detecting deviations.

Through the costs it is possible to determine the profit margin of the company and, therefore, the real results of the operation of the entity are known. In this sense, costs become an indispensable tool to evaluate the organization as a whole.

1. The accountant designs a new technique for controlling costs.

2. He designs a new technique for controlling costs.

3. He designs a new technique for controlling costs for him.

1. The manager uses a new system to reduce costs.

2. She implements a new costing technique for he.

3. Create a new system to reduce costs for the boss

1. Do you think costs affect revenue in a company? Why?

Yes, costs affect the profits of a company, if it does not have a correct cost determination system it is more vulnerable to making wrong decisions, it does not have real control of its finances and it cannot profitably plan, manage and evaluate cash flows. worked.

2. Do you think it is necessary to set standards for costing? Why? Why not?

Yes, it is necessary to establish standards for costs, since they are predetermined costs that serve as a basis to measure actual performance.

1. So, it is like budgetary control.

2. Establishment of cost centers for controlling costs.

3. Classification of accounts for analyzing costs information.

1. general accounting focused on measuring the production costs of a specific good or the provision of a specific service. This is because cost accounting to determine the manufacturing unit value of a product is very extensive and requires a subsystem within the general accounting system.

2. Yes, it is necessary since the standard cost must be calculated based on the already finished or semi-finished product; the material is calculated according to the detail of the technical specifications of the material that enters the product; the work, according to the technical detail used in the various operations, and the indirect manufacturing costs according to the corresponding quota, based on the previous budget

1.No, because through the costs it is possible to determine the profit margin of the company.

2.Because standard cost is one of the most widely used systems for determining production costs in a manufacturing company.

Through the costs it is possible to determine the profit margin of the company and, therefore, the real results of the operation of the entity are known. In this sense, costs become an indispensable tool to evaluate the organization as a whole.

The importance of standard costs lies, among other issues, due to efficiency in reducing costs and eliminating unnecessary outlays, which achieves the highest efficiency in production costs by establishing optimum levels of use of human resources

*No. Because when we refer to "an information system that allows recording, determining, distributing, accumulating, analyzing, interpreting, controlling and reporting the costs of production, distribution, administration, and financing.

*Yes. Because the standard cost is one of the most used systems to determine production costs in a manufacturing company, and the development of 30 questions related to the standard cost that will help to understand this cost system is presented below.

1.Yes, because it's time to increase the price of products and the vast majority of customers are affected by the increase in product prices and that causes us to lose customers.

2.Yes, because it is to generate more profit and from that obtain to buy more inventory.

1. Not since It is necessary for companies to know the real cost of their production system so that they can make decisions that are more adjusted to the reality of the business.

2.Yes, since they are predetermined costs that serve as the basis for measuring actual performance. Accounting standards do not need to be incorporated into the accounting system.

1. standar cost: only works for manufacturing organizations, requires standardization and fixes targets, budgetary control don't do it.

2. yardstick: Rule or norm according to which a judgment is established or a determination is made.

3. fixation: a process you follow to fix something

1. It all depends on the net value that you put on the product because, depending on the cost of the raw material, you must set the price that is going to be set well.

2. Yes, because it would be the main objective to run a business, so it is necessary to establish standards.

1.Useful for manufacturing organizations.

2. Sure! Standard is a yardstick of measurement.

3.I usually understand professor's explanation but this time I don't.

1. the costs it is possible to determine the profit margin of the company and, therefore, the real results of the operation of the entity are known. In this sense, the costs are defined in an indispensable tool to evaluate the organization.

2.Yes, because it allows us to evaluate the productive efficiency of the organization, develop a budget plan, facilitate cost control and detect deviations.

Actual cost is the actual expenditure made to acquire an asset, which includes the supplier-invoiced expense, plus the costs to deliver, set up, and test the asset.

Standard costs are estimates of the cost of goods sold -- that is, the cost required to produce your products.

If you accuse a person of having a fixation on something or someone, you mean they think about a particular subject or person to an extreme and excessive degree

1. In S.C, you usually need to compare actual cost and standard cost.

2. We need an organization structure, a manual, a study of methods and procedures, we need to determine the type of standar, fixation of the standard and cooperation.

3. Standard is a yardstick of measurement.

1- People sometimes think that standard is a benchmark measurement with specific conditions for resources usage, but, we need to define standard in terms of costing.

2- In S.C, you usually need to compare actual cost and standard cost. Then the difference gives you the variance.

3- S.C only works for manufacturing organizations, requires standardization and fixes targets, budgetary control don't do it.

revenue minus expenses. The amount that your business ultimately earns is equal to the amount you have made in exchange for products or services minus the amount you have spent to keep your business running.

Standard costs are estimates of the actual costs in a company’s production process, because actual costs cannot be known in advance.

1. The accountant designs a new technique for controlling costs.

2. He ask us to study three main topics.

3.He ask us to study three main topics

1. Through the costs it is possible to determine the profit margin of the company and, therefore, the real results of the operation of the entity are known. In this sense, the costs are defined in an indispensable tool to evaluate the organization as a whole.

2.The standard cost system allows evaluating the productive efficiency of the organization, developing a budget plan, facilitating cost control and detecting deviations.

You've always had a... fixation when it comes to money.

Sectors which are a benchmark and bring his great knowledge.

1.fixation:

My wife has a recent fixation with healthy eating.

2. actual cost:

However, the actual cost and benefit of food aid must be analyzed according to country-specific considerations.

3. benchmark:

Use this board as a benchmark for the correct length to cut the others.

1. airlines with the price of oil. As the price of a barrel goes up, profits in the sector go down, and when the price goes down, profits go up. This is because the price of the tickets late reflects changes in the price of the fuel.

2. Standard costs are default costs that serve as the basis for measuring the actual performance. Standard accounting costs do not need to be incorporated into the accounting system. This is a common practice with regard to cost-sharing standards. Manufacturing cost standards are generally formally integrated into cost accounts. When this happens, systems that are known as standard cost accounting systems.

1. Through costs it is possible to determine the company's profit margin and, therefore, the real results of the entity's operation are known. In this sense, costs become an indispensable tool for evaluating the organization as a whole.

2. The use of standard costs facilitates the preparation of operating budgets, promotes cost control and simplifies inventory costs.