Topic 8 Standard Costs for Control

Outline
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Controlling costs
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Setting standards
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Calculating standard cost variances
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Investigating significant variances
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Responsibility for variances
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Standard costing and behaviour
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Standard costs for product costing
Controlling Costs
Controlling Costs
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•Businesses are ‘in control’ when operations Businesses are ‘in control’ when operations proceed to plan and achieve objectivesproceed to plan and achieve objectives
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•Necessary requirements for controlNecessary requirements for control

-A predetermined performance levelA predetermined performance level

-A measure of actual performanceA measure of actual performance

-A comparison between standard performance and A

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