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chapter%20101 - September 7 2011 Accounting 2102 1 Chapter...

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Unformatted text preview: September 7, 2011 Accounting 2102 1 Chapter 10 Standard Costing: A Managerial Control Tool Budgets versus Standards Budgets versus Standards budgets are prepared on an aggregate level standards are prepared on a per unit level per unit standards are developed on two levels • price (rate) standards • quantity (efficiency) standards should be challenging and achievable September 7, 2011 Accounting 2102 2 VARI ANCES variance = actual – budgeted 2 variances . . . price (rate) variance quantity (efficiency) variance labeled as favorable (F) or unfavorable (U) material or immaterial September 7, 2011 Accounting 2102 3 Calculating Variances . . . Dir ect M ater ials DM Pr ice Var iance Point of measurement? Responsible party? DM Quantity Var iance Point of measurement? Responsible party? September 7, 2011 Accounting 2102 4 Total DM Var iance Leave Only Footprints, Inc....
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This note was uploaded on 09/07/2011 for the course ACCT 2102 taught by Professor Farmer during the Spring '08 term at UGA.

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chapter%20101 - September 7 2011 Accounting 2102 1 Chapter...

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