Title Details: | |
Standard costing and variance analysis |
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Authors: |
Aggelopoulos, Eleftherios Georgopoulos, Antonios |
Description: | |
Abstract: |
The sixth chapter chapter deals with the purpose and principles of standard costing. Standard costing provides an additional cost management control tool that informs management on the required cost amounts to produce a product, thus allowing the comparison between standard and actual cost performance. The standard costing method differs significantly from the actual costing method because it uses estimated costs to calculate the three components of product cost (direct materials, direct labor and overheads). Therefore, the standard costing along with the variance analysis are important tasks in order to set budgets and control costs. The implementation of standard costing can be combined with the activity-based costing (ABS) technique.
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Linguistic Editors: |
Lampropoulos, Ioannis |
Graphic Editors: |
Kalogera, Maria |
Type: |
Chapter |
Creation Date: | 08-07-2022 |
Item Details: | |
License: |
Attribution - NonCommercial - ShareAlike 4.0 International (CC BY-NC-SA 4.0) |
Handle | http://hdl.handle.net/11419/8345 |
Bibliographic Reference: | Aggelopoulos, E., & Georgopoulos, A. (2022). Standard costing and variance analysis [Chapter]. In Aggelopoulos, E., & Georgopoulos, A. 2022. Management Accounting [Undergraduate textbook]. Kallipos, Open Academic Editions. https://hdl.handle.net/11419/8345 |
Language: |
Greek |
Is Part of: |
Management Accounting |
Publication Origin: |
Kallipos, Open Academic Editions |