Kế toán, kiểm toán - Chapter 10: Satndard costing, operational performance measures, and the balanced scorecard

Management by Exception

Managers focus on quantities and costs
that exceed standards, a practice known as
management by exception

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Chapter 10Standard Costing, Operational Performance Measures, and the Balanced ScorecardManaging CostsStandard costActual costComparison between standard and actual performance levelCost varianceManagement by ExceptionDirect MaterialManagers focus on quantities and costs that exceed standards, a practice known as management by exception. Type of Product CostAmountDirect LaborStandardSetting StandardsAnalysis of Historical DataTask AnalysisCost Standards Accountants, engineers, personnel administrators, and production managers combine efforts to set standards based on experience and expectations. Participation in Setting StandardsPerfection versus Practical Standards: A Behavioral IssueShould we use practical standards or perfection standards?Practical standards should be set at levels that are currently attainable with reasonable andefficient effort.I agree. Perfection standards are unattainable and therefore discouraging to most employees.Perfection versus Practical Standards: A Behavioral IssueUse of Standards by Service OrganizationsStandard cost analysis may be used in any organization with repetitive tasks.A relationship between tasks and output measures must be established.A General Model for Variance Analysis Actual Quantity Actual Quantity Standard Quantity × × × Actual Price Standard Price Standard PricePrice VarianceQuantity Variance Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead Variable overhead spending variance efficiency variance AQ(AP - SP) SP(AQ - SQ) AQ = Actual Quantity SP = Standard Price AP = Actual Price SQ = Standard Quantity Size of varianceDollar amountPercentage of standardRecurring variancesTrendsControllabilityFavorable variancesCosts and benefits of investigationSignificance of Cost VariancesWhat clues help me to determine the variances that I should investigate?Statistical Control Chart123456789Variance MeasurementsFavorable Limit Unfavorable Limit Desired Value •••••••••Warning signals for investigationIf I buy cheaper materials, my direct-materials expenses will be lower than what is budgeted. Then I’ll get my bonus. But we may lose customers because of lower quality.Behavioral Impact of Standard CostingInteraction among VariancesI am not responsible for the unfavorable labor efficiency variance! You purchased cheap material, so it took more time to process it. You used too much time because of poorly trained workers and poor supervision.Standard Costs and Product CostingStandard material and labor costs are entered into Work-in-Process inventory instead of actual costs.Standard cost variances are closed directly to Cost of Goods Sold. Advantages of Standard CostingManagement by ExceptionStable Product CostsSensible Cost ComparisonsAdvantagesPerformance EvaluationEmployee Motivation

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