成本与管理会计7.pptVIP

Chapter 7 Product costing systems: Standard costs Contents Topic 7.1 Standard Costing Topic 7.2 Setting Standard Costs Topic 7.3 A General model for variance Topic 7.4 Journal Entries to Record Variances Topic 7.5 Advantages and disadvantages of standard costing Topic 7.1 Standard Costing 1、Standard Cost Variances Standard Cost Variances Variance Analysis Cycle Two categories of standards Setting Standard Costs Accountants, engineers, personnel administrators, and production managers combine efforts to set standards based on experience and expectations. Setting Standard Costs Setting Standard Costs Setting Standard Costs Topic 7.2 Setting Standard Costs A standard cost card for one unit of product might look like this: 1、Setting Direct Material Standards 2、Setting Direct Labor Standards Topic 7.3 A General model for variance A General Model for Variance Analysis A General Model for Variance Analysis 1、Material Variances Example Hanson Inc. has the following direct material standard to manufacture one Zippy: 1.5 kilograms per Zippy at $4.00 per kilogram Last week 1,700 kilograms of material were purchased and used to make 1,000 Zippies. The material cost a total of $6,630. Material Variances Summary Material Variances Material Variances Continued Hanson Inc. has the following material standard to manufacture one Zippy: 1.5 kilograms per Zippy at $4.00 per kilogram Last week 2,800 kilograms of material were purchased at a total cost of $10,920, and 1,700 kilograms were used to make 1,000 Zippies. Material Variances Continued Material Variances Continued Material Variances Continued Isolation of Material Variances Responsibility for Material Variances Direct Material Variances Analysis P7-5 MPV=61500-60000=1500 MUV=52000-12500*4=2000 P7-6 MPV=7975-550*15=-275 MUV=(550-500)*15=750 2、Labour Variances Example Labour Variances Example Labour Rate Variance – A Closer Look Labour Efficiency Variance –A Closer Look Responsibility for Labour Varianc