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1 year ago

The difference between the actual cost incurred and the standard cost is called the?

1 answer:

Taya2010 [7]1 year ago

4 0

A Standard Cost Variance is a difference between the actual cost incurred and the standard cost against which it is measured.

The main difference between normal costing and standard costing is that normal costing uses actual costs for material and direct labor costs, whereas standard costing uses predefined costs for these two items. That's it.

This difference between standard cost and actual cost is called variance. An unfavorable variance occurs if the actual cost is higher than the standard.

The main difference between marginal costing and standard costing is that marginal cost is a subset of standard cost and standard is a superset of marginal costing. Description: Standard costing is a costing method and there are two types of costing methods.

Learn more about Standard Cost Variance here: brainly.com/question/25790358

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You have been given the following information for Nicole's Neckties Corp.: Net sales = $2,500,000; Cost of goods sold = $1,300,0

Finger [1]

Answer:

$360,000

Explanation:

Net sales : $2,500,000

Cost of goods sold : ($1,300,000)

Gross profit : $ 1,200,000

Interest expense : ($50,000)

Net profit : $ 1, 150,000

Retained earning: ($30,000)

Dividends paid : ($300,000)

Tax at 40%: =40% * $1,150,000

($460,000)

Depreciation expense : $360,000

6 0

3 years ago

If Food Markets were to acquire Meat Processors, the acquisition would be classified as a _____ acquisition.

EleoNora [17]

Answer:

a. Vertical

Explanation:

The vertical acquisition means the acquisition where the company purchased one of the suppliers. Like the manufacturing company buys the product i.e. not fully developed so here for fully developed the company purchased out its supplier so this we called as a vertical acquisition

Now as per the given situation since the food markets would be purchased Meat processors so this represent the vertical acquistion

hence, the correct option is a.

5 0

3 years ago

Consumers planning to buy recreational equipment tend to buy higher quality,

Nady [450]

Answer:

The answer is: B) In Boravia when the economy is strong, those who might otherwise go camping tend to take vacations overseas.

Explanation:

Usually a sustained economic growth would lead to an increase in the sales of high quality products. Hill and Dale sell high quality expensive products, so the only thing that could hurt their sales is that people don't go camping anymore. The only option that could lead to lower demand is that Boravia's economy is doing so well that its citizens can now afford to travel to other countries instead of camping.

7 0

2 years ago

other students in school learn that you are making money by selling bracelets. they decide to open their own bracelet businesses

vampirchik [111]

Well there's more competition, because you're not the only one who sells bracelets anymore

5 0

3 years ago

Read 2 more answers

A company produces a product with variable costs of $2.50 per unit. The product sells for $5.00 per unit. The company has fixed

elena-14-01-66 [18.8K]

Answer:Break-even point (dollars)= $26,000

Explanation: