Restrictions of standard costing
Write down the restrictions of standard costing?
Expert
- Basically it is not easy to set up standard costing
- Recurrent amendment of standards is costly.
- Within the short period of time, standards become unbending.
- Set of standards makes disturbance amongst the employees because of the non accomplishment of the same. Therefore, sometimes it makes unfavorable effects.
- Every organization has dissimilar setting of parameters to set standards for themselves. Therefore, it might not be appropriate in all kinds of organizations.
- It will be not easy to appropriately inspect the discrepancy because of a variety of random factors.
-Management’s scarcity of interest in the standard costing creates it unproductive means of cost control.
1. Somerset Ltd manufactures components for the motor industry. In one of its workshops it has three workers, Joe, Jack and Jonny, who at any one time work on batches of the same component. The standard time allowed to produce one unit is one hour. The workers rate of pay is
Assume that pound is being pegged to the gold at 6 pounds per ounce; on the other hand the franc is being pegged to the gold at 12 francs per ounce. Which, of course, states that equilibrium exchange rate must be the two francs per pound? If existing market exchange r
Wheather it is correct or not that standard costing is a separate system in accounting?
State some of financial and operational measures MNC can take minimize the political risk linked with the foreign investment project?
Discuss briefly the cause and the solution(s) to international bank crisis including less developed countries.
State Net Profit in brief?
State main objectives of Bretton Woods’s system?
United States has experienced constant current account deficits since early 1980s. List some of the major causes of the deficits? What could be the consequences of these constant U.S. current account deficits?
Suppose that your company has an equity position within the French firm. Explain some of the condition under which the dollar/franc exchange rate uncertainty does not have the exchange exposure for your company.
Explain the importance in studying the international financial management?
18,76,764
1922923 Asked
3,689
Active Tutors
1415292
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!