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2 years ago

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

1 answer:

Taya2010 [7]2 years 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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The majority of problems Best Buy was facing have been brought about by _________________force.

babunello [35]

Answer:

External forces

Explanation:

Best buy is an electronics retailer that aspires to improve customer's lives through technology. They have over 175+ store locations.

However they have been facing challenges in the market with other playera like Circuit City, CompUSA and RadioShack not surviving.

The challenges faced by Best Buy is mostly as a result of external forces in the form of competition with Walmart and Amazon. Resulting in the loss of their share value.

Walmart and Amazon have been able to capture a large part of the electronics market.

Other problems like leadership scandals and inefficient processes also contributed to their problems.

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3 years ago

____________ is a completely inadequate mechanism ____________________ in a modern advanced economy. Question 21 options: Curren

choli [55]

Answer:

Barter; for trying to coordinate trades

Explanation:

The barter is the system where the goods or services are exchanged with another goods or services. Here no money involvement is there

Only goods or services are exchanged with the different good or services

So it is a complete non-adequate mechanism and it should be tried for coordinating the trades

Therefore the above option should be considered

3 0

3 years ago

Organ Rentals Corporation has been having numerous problems. Communication across departments is poor and decisions are backing

enot [183]

The answer is Functional.

8 0

3 years ago

Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in

tia_tia [17]

Answer:

Date General Journal Debit Credit

Cash $15,400

Accumulated Depreciation $39,600

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $15,400 cash)

Cash $16,500

Accumulated Depreciation $39,600

Gain on sale $1,100

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $16,500 cash)

Cash $12,700

Accumulated Depreciation $39,600

Loss on sale $2,700

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $12,700 cash)

4 0

2 years ago

Suppose that a perfectly competitive industry is in long-run equilibrium. Every firm is producing at minimum average total cost,

elixir [45]

Answer:

B. firms will exit the industry

Explanation:

When the firms is producing at the minimum average total cost, the amount of profit margin that they get tend to be high. This means that they can fulfill their target profit even by producing less amount of product.

Even when the demand in the market is decreased, Such firms will most likely accumulated enough profit to survive for a long period of time before they go bankrupt. This is why the firms is very unlikely to exist the industry in a short run.

7 0

3 years ago