Let's discuss some of the advantages and disadvantages of standard costs. How do you or your manager determine what the standard costs should be?
I am using this entire discussion to assist you in studying for the Final Exam. If you actively participate in this thread, it will be a great reference and study tool. All substantive postings will count towards your weekly participation. Here are the rules - please follow them to keep this thread easy to read and reference back to.
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We discussed managerial accounting during week 1. Let's work a refresher exercise E1-1 and see how much you remember
When should variances be investigated?