Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)

5th Edition

ISBN: 9780134642093

Author: Karen W. Braun, Wendy M. Tietz

Publisher: PEARSON

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Textbook Question

Chapter 11, Problem 6QC

(Learning Objective 4) Which of the following is not an advantage of using standard costs?

a. Standards can cause unintended behavioral consequences.
b. Standards are useful for budgeting.
c. Standards serve as cost benchmarks.
d. Standards can simplify bookkeeping.

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

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Chapter 11, Problem 5QC

Chapter 11, Problem 7QC

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Chapter 11 Solutions

Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)

Ch. 11 - (Learning Objective 1) Which of the following is...Ch. 11 - (Learning Objective 2) The direct material price...Ch. 11 - Prob. 3QC Ch. 11 - Prob. 4QC Ch. 11 - Prob. 5QC Ch. 11 - (Learning Objective 4) Which of the following is...Ch. 11 - Prob. 7QC Ch. 11 - (Learning Objective 6) Which of the following is...Ch. 11 - Prob. 9QC Ch. 11 - (Learning Objective 7Appendix) Which of the...

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(Learning Objective 4) Which of the following is not an advantage of using standard costs ? a. Standards can cause unintended behavioral consequences. b. Standards are useful for budgeting. c. Standards serve as cost benchmarks. d. Standards can simplify bookkeeping.

Solution Summary: The author explains that standards can cause unintended behavioral consequences is not an advantage of using standard costs. Standards are useful for budgeting and serve as cost benchmark.

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