1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ioda
3 years ago
6

Standard costs are used in the calculation of: Multiple Choice Quantity and sales variances. Price variances only. Price, quanti

ty, and sales variances. Price and quantity variances. Quantity variances only.
Business
1 answer:
Tju [1.3M]3 years ago
8 0

Answer:

Price and quantity variances.

Explanation:

Standard cost in business management refers to the amount of money a product is supposed to cost in manufacturing it. It is a management tool that can be used to measure efficiency in the level of output or production of goods and services at a specific period of time.

In Financial accounting, the difference between the actual cost of each unit of a product and its standard cost is referred to as variance. In order to determine the standard cost of a product, the expected quantity of the product is multiplied by an expected price.

Standard costs are used in companies for a variety of reasons such as;

1. They're used to estimate the cost of an inventory.

2. They're used to plan direct labor, variable factory overhead and direct materials.

3. Standard costs are used to control costs.

However, standard costs cannot be used to indicate where changes in technology and machinery need to be made rather an actual cost should be used.

Additionally, the standard cost of each unit of a product manufactured in a business firm is categorized into two (2) and these are;

I. Price standard.

II. Quantity standard.

You might be interested in
When should you establish objectives for your risk management plan cource hero?
Andrew [12]
You should establish it immediately
7 0
3 years ago
If 9,000 fans bought tickets totaling $135,000, what was the average revenue per ticket?
son4ous [18]
In order to find the average, divide the total cost which is $135,000 by the number of fans 9,000.. your answer would be $15.00 per person.
4 0
3 years ago
9. When Margot applies for a loan, she needs to demonstrate to the bank that she has capital. What could she show them to best d
Sidana [21]

Answer:

copies of her mortgage, investment reports, and bank statements

Explanation:

The only option that properly demonstrates her capital would be copies of her mortgage, investment reports, and bank statements. Her mortgage shows the bank that she is able to pay her debt on time every month. Her bank statements show how much money she is spending on a monthly basis. Lastly, her investment reports show all of her assets and how much they are earning per month, all of this combined makes up her capital which is basically the amount of money she has, both liquid and in assets.

3 0
3 years ago
A study has been conducted to determine if Product A should be dropped. Sales of the product total $224,000 per year; variable e
jek_recluse [69]

Answer: Decrease by $11,200 per year.

Explanation:

First let's calculate the income if the product is not dropped.

Calculting income would be,

= Sales - Variable Costs - Fixed Costs

= 224,000 - 156,800 - 100,800

= -$33,600

Income(loss) would be a ($33,600) if the product is kept.

If the product is discontinued, it is given that $44,800 in fixed costs will still continue.

These fixed costs cannot be covered in part by the Sales because the product will be discontinued. So that means the net operating Income would simply be a $44,800 loss.

The difference between these 2 options is therefore,

= 44,800 - 33,600

= $11,200

This means that if Product A is stopped, the net operating income will decrease by a further $11,200 because there is no revenue to cover the fixed assets in part. The last option is correct.

7 0
3 years ago
A consumer equilibrium is a situation in which a consumer has allocated​ _____ of her income in a way that​ _____. A. ​all; maxi
ludmilkaskok [199]

Answer:

The correct answer is (D) all, maximizes her total utility.

Explanation:

Consumer's equilibrium is a defined as a situation in which an individual uses his or her money to buy goods in a manner in which the person obtains the highest satisfaction and has no need for a change in the level of consumption on account of the price of the product.

Consumer equilibrum enables an individual to obtain complete satisfaction from his or her money. Consumer equilibrum is found by comparing the ratio of the marginal utility to the price of a commodity.

3 0
3 years ago
Read 2 more answers
Other questions:
  • Amber is writing to an accountant that she would like to interview to gain information about the career field. What information
    12·2 answers
  • The extent to which a firm's internal activities encompass one, some, many, or all of the activities that make up an industry's
    6·1 answer
  • The maintenance of common facilities, security, advertising, and special events to attract consumers are handled by the shopping
    7·1 answer
  • Todd, an analyst for the U.S. government, has been given the task of assessing the economic performance of Country X in the inte
    7·1 answer
  • Cutco promotes and prices its knife products to convey its premium quality and backs them with exceptional customer service to m
    9·2 answers
  • Capacity requirements planning helps managers reconcile __________ with __________.
    13·1 answer
  • The current rates are: (1) Spot exchange rate: $2.00/£; (2) 90-day USD denominated bonds: 2% (8% annual); (3) 90-day UK pound de
    12·1 answer
  • Vincent is interested in increasing his earning potential upon completing his internship at a major accounting firm. Which optio
    5·1 answer
  • 1. Give an example of appropriate communication with a customer and an example of appropriate communication with an employer.
    10·1 answer
  • The goal of global market segmentation is to break down a new foreign market for a product or a service into different groups of
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!