Chapter 10 Standard Costing 海南大学董建华讲授 10-1
10 - 1 海南大学董建华讲授 Chapter 10 Standard Costing
Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor,and overhead Calculate and record material,labor,and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances 海南大学董建华讲授 10-2
海南大学董建华讲授 10- 2 Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor, and overhead Calculate and record material, labor, and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances
Standard Cost Systems Manufacturing Service Costs Not-for-Profit ACUP②d Record standard and actual costs in the accounting records 海南大学董建华讲授 10-3
海南大学董建华讲授 10- 3 Standard Cost Systems Manufacturing Service Not-for-Profit Record standard and actual costs in the accounting records Actual Costs Incurred
Standards Standard costs are budgeted costs to manufacture a single unit of product,or perform a single service To develop standards identify material and labor types,quantities,and prices overhead types and behavior 海南大学董建华讲授 10-4
海南大学董建华讲授 10- 4 Standards Standard costs are budgeted costs to ◼ manufacture a single unit of product, or ◼ perform a single service To develop standards identify ◼ material and labor types, quantities, and prices ◼ overhead types and behavior
Material Standards Types,quantity,quality of materials used Product specifications,observation,inquiry ▣Bill of Materials Balance cost,quality,and projected sales price Standard Material Quantity Unit Purchase Price Cost 海南大学董建华讲授 10-5
海南大学董建华讲授 10- 5 Material Standards Types, quantity, quality of materials used ◼ Product specifications, observation, inquiry ◼ Bill of Materials ◼ Balance cost, quality, and projected sales price Standard Material = Quantity * Unit Purchase Price Cost