IS STANDARD COSTING OBSOLETE? Department of Accountancy University of Kelaniya What is Standard costing? Standard costing is technique which establishes predetermined estimates of the costs of products and services and then compares these predetermined costs with actual costs as they are incurred. Management Accounting 2 What is Variance? The difference between a cost’s actual amount and its budgeted or planned amount Unfavorable cost variance Actual cost > Budgeted Amount Favorable cost
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9551/SQRT(300)‚1) = 0.0783 (c) A circuit contains three resistors wired in series. Each is rated at 6 ohms. Suppose‚ however‚ that the true resistance of each one is a normally distributed random variable with a mean of 6 ohms and a standard deviation of 0.3 ohm. What is the probability that the combined resistance will exceed 19 ohms? How "precise" would the manufacturing process have to be to make the probability less than 0.005 that the combined resistance of the circuit would exceed
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Mississippi Social Studies Standards‚ The National Council for the Social Studies Standards (NCSS)‚ and the Common Core Standards I have come to the conclusion‚ that these three sets of standards are all very similar‚ yet different. In my opinion NCSS and the Mississippi Social Studies Standards contain similar goals and structure. Although the Common Core Standards goal correspond with the Mississippi Social Studies Standards‚ I believe the Mississippi Social Studies Standards excels in decoding the
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it sold‚ and that units left unsold at the end of the season were sold at a loss that average 8 percent of wholesale price. Therefore‚ the stock out probability equal to 8%/(24%+8%)=25% so there are 75% probability of being less than mean+0.67*SD (standard deviation). According to z table‚ z equal to 0.67 when probability is 0.75. Therefore‚ we can calculate quantity for each style include the risk of stock out by using formulate Q*=mean+z*SD. Therefore‚ we can get the maximum order units for each
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Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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Is There a Universal Standard for Ethics?‚ written by Walter Stace‚ is a staple point of distinction between Absolutism and Relativism. Stace explores this by questioning the universal standard of ethics that may arise. Ultimately‚ Stace’s question withdraws yet another conflict between ethical standards‚ and its evolution. Stace‚ in the fullness of time‚ agrees with the assumption of absolute and unvarying ethics‚ standards which have remained the same through every age. It is clear that Stace lacks
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Standard Bank Group Historical overview SBSA 605841 Hoisting the Standard Standard Bank aspires to be a leading emerging markets financial service provider with excellent service and solutions for its customers while also visibly achieving social relevance. Based in Johannesburg‚ South Africa‚ the bank has strategic representation in 17 sub-Saharan countries and also in 16 countries on other continents with an emerging market focus. Standard Bank vision We aspire to be a leading emerging
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An adverse effect on moral standards News papers‚ magazines television‚ and the Internet‚ also caleed the mass media‚ play an important role in society since they provide people with information‚ education and entertainment. Nontheless‚ I strongly belive that in the last years these mass media have abused their position of power creating an adverse effect on moral standards‚ due to the explicit language and the images of sex and violence which the viewer is bombard with. To begin with‚ there
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CFA Institute Soft Dollar Standards Guidance for Ethical Practices Involving Client Brokerage Corrected content posted November 2011. ©November 2004 [reprint]‚ August 1999 [reprint]‚ 1998 by Association for Investment Management and Research All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means‚ electronic or mechanical‚ including photocopy‚ recording‚ or any information storage and retrieval system‚ without permission of the
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the Common Core State Standards. The National Governors Association defines the Common Core State Standards Initiative as “a state-led effort to establishing a single set of clear educational standards for English-language arts and math that states can share and voluntarily adopt” (“NGA”). The design of the standards is to emphasize the rigorous content and practices required for higher order thinking‚ depth of knowledge‚ and application at every grade level. The standards include what students
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