Sandhill Company begins operations on July 1, 2022. Information from job cost sheets shows the following: Manufacturing Costs Assigned July August $14,400 $10,560 12,960 11,640 Job No. 100 (a) 101 102 103 104 6,000 14.160 6,960 September Your answer is incorrect. $14,400 7,200 Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were completed in September. Each job sold for 60% above its cost in the month following completion 8,400

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Q: advantages of financial accounting

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.