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## Standard Costing and Variance AnalysisPosted by: seminar class Created at: Monday 28th of February 2011 03:04:27 AM Last Edited Or Replied at :Monday 11th of April 2011 04:01:30 AM | discuss the utility of variance analysis in cost control ,
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erial and machines. It leads to economy and increased productivity in all business activities. 7) It simplifies costing procedures and reporting. It reduces clerical work since standard rates are fixed for material pricing, overhead allocation apportionment etc. 8) It makes the work of valuation of inventory easier. This is because inventory is valued at pre-determined costs. Limitations of Standard Costing:-1) Standard costing is an expensive technique for a small concern. 2) It is difficult to set accurate standard costs. Improperly set standards may do more harm than good. .................. [:=> Show Contents <=:] | |||

## pdf difference between standard costing and budgetary controlPosted by: Created at: Sunday 28th of April 2013 03:22:17 AM Last Edited Or Replied at :Monday 29th of April 2013 12:32:56 AM | difference between standard costing and budgetary control ,
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differentiate between budgetary contr..................[:=> Show Contents <=:] | |||

## Standard Costing and Variance AnalysisPosted by: seminar class Created at: Monday 28th of February 2011 03:04:27 AM Last Edited Or Replied at :Monday 11th of April 2011 04:01:30 AM | discuss the utility of variance analysis in cost control ,
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future. On the other hand standard costs are based on scientific analysis and engineering studies.
Standard costing determines what the cost should be. Standard costs are used as a devise for measuring efficiency. The standards are predetermined and a comparison of standards with actual costs enables to determine the efficiency of the concern. Estimated costs cannot be used to determine efficiency. It only determines the expected costs. An effort is made that estimated cost should almost be near to actual costs. The purpose of determining estimated costs is to find out selling .................. [:=> Show Contents <=:] |

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