What is standard costing its advantages and limitaions?
Answers
Answered by
1
advantages:
Improved cost control.
More useful information for managerial planning and decision making.
More reasonable and easier inventory measurements.
Cost savings in record-keeping.
Possible reductions in production costs.
disadvantages:
Controversial materiality limits for variances.
Nonreporting of certain variances.
Low morale for some workers
Improved cost control.
More useful information for managerial planning and decision making.
More reasonable and easier inventory measurements.
Cost savings in record-keeping.
Possible reductions in production costs.
disadvantages:
Controversial materiality limits for variances.
Nonreporting of certain variances.
Low morale for some workers
Similar questions