TAILIEUCHUNG - Lecture Managerial accounting for managers (4e) - Chapter 11: Standard costs and variances

This chapter extends our study of management control by explaining how standard costs are used by managers to control costs. It demonstrates how to compute direct materials, direct labor, and variable overhead variances. The chapter also defines some nonfinancial performance measures that are frequently used by companies. | Standard Costs and Variances Chapter 11 Chapter 11: Standard Costs and Operating Performance Measures This chapter extends our study of management control by explaining how standard costs are used by managers to control costs. It demonstrates how to compute direct materials, direct labor, and variable overhead variances. The chapter also defines some nonfinancial performance measures that are frequently used by companies. Standard Costs Standards are benchmarks or “norms” for measuring performance. In managerial accounting, two types of standards are commonly used. Quantity standards specify how much of an input should be used to make a product or provide a service. Price standards specify how much should be paid for each unit of the input. Examples: Firestone, Sears, McDonald’s, hospitals, construction, and manufacturing companies. A standard is a benchmark or “norm” for measuring performance. In managerial accounting, two types of standards are commonly used by manufacturing, .

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Financial statement
• Profitability analysis
• Standard costs
• Variance analysis cycle
• Managerial accounting for managers
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost