Standard Product Cost Santa Clara Furniture Company manufactures designer home furniture. Santa Clara uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: Direct materials (oak): Variable factory overhead: Fixed factory overhead: a. Determine standard rate standard time per unit standard price standard quantity standard rate standard rate the standard cost per dining room table. per dining room table $19.00 per hr. 3.5 hrs. $16.50 per bd. ft. 27 bd. ft. $3.90 per direct labor hr. $2.10 per direct labor hr. b. A standard cost system provides the company's management a cost control tool using the principle of C cost deviations from standards can be investigated and corrected. Using this principle,

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A:

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Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.