Flexible Budgets and Standard Costs - CSN：弹性预算、标准成本- CSN.pptVIP

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Flexible Budgets and Standard Costs - CSN：弹性预算、标准成本- CSN.ppt

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Flexible Budgets and Standard Costs - CSN：弹性预算、标准成本- CSN

Flexible Budgets andStandard Costs Chapter 23 Objective 1 Prepare a flexible budget for the income statement Static Budget Flexible Budget – E23-15 Objective 2 Prepare an income statement performance report Static Budget Variances Sales Volume Variance Flexible Budget Variance E23-17 E23-17 Objective 3 Identify the benefits of standard costs and learn how to set standards Standard Costs Budget for a single unit Price standards Quantity standards Price Standards Direct materials – purchase price (after early-pay discount) + freight-in + receiving costs Direct labor – basic pay rates + payroll taxes + fringe benefits Manufacturing overhead – determine resources needed for support activities and determine appropriate allocation base Quantity Standards Direct materials – product specifications allowing for spoilage Direct labor – time requirements to produce product as well as level of experience needed to do specific tasks Manufacturing overhead – determine resources needed for support activities Benefits of Standard Costs Helps managers In budget preparation Target levels of performance Identify performance standards Set sales prices Decrease accounting costs Variances Price Variance Measures how well the business keeps unit costs within standards Efficiency Variance Efficiency – measures how well the business uses its materials or human resources Variances Objective 4 Compute standard cost variances for direct materials and direct labor E23-20 Materials price variance: Actual Quantity = 145,000 feet Actual Price = $1.05 Standard Price = $1.10 (Actual Price – Standard Price) x Actual Quantity ($1.05 - $1.10) x 145,000 feet = $7,250 F E23-20 Materials efficiency variance: Actual Quantity = 145,000’ Standard Quantity = 20,000 fenders x 7’ = 140,000’ Standard Price = $1.10 (Actual Quantity–Standard Quantity) x Standard Price (145,000-140,000) x $1.10 = $5,500 U E23-20 Labor price variance: Actual Quantity = 450 hours Actual Price = $14.00 Stan