COMM 305 Lecture Notes - Lecture 1: Foreign Exchange Market, Kilogram
25 Jan 2015
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* standard direct labour hours and standard machine hours are two examples of standard activity indexes. The standard manufacturing overhead rate per kilogram is. This total variable overhead budget variance (tvohbv) can be analyzed into a spending (price) variance and an efficiency (quantity) variance. Manufacturing overhead costs are applied to work in process on the basis of: actual hours worked. standard hours allowed. ratio of actual variable to fixed costs. actual overhead costs incurred. * uses common financial measures such as roi. * evaluates employee skills and satisfaction, training sessions. The balanced scorecard would measure: financial measures against internal measures. past outcomes against forward looking measures. hard objective measures against financial measures. short term objectives against soft subjective measures. * variances from standards will be recognized at the earliest opportunity. * the work in process account is maintained at standard cost.
