海南大学：《成本会计》课程教学资源（PPT课件）Chapter 10 标准成本法 Standard Costing

Chapter 10 Standard Costing 海南大学董建华讲授 10-1

10 - 1 海南大学董建华讲授 Chapter 10 Standard Costing

Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor,and overhead Calculate and record material,labor,and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances 海南大学董建华讲授 10-2

海南大学董建华讲授 10- 2 Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor, and overhead Calculate and record material, labor, and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances

Standard Cost Systems Manufacturing Service Costs Not-for-Profit ACUP②d Record standard and actual costs in the accounting records 海南大学董建华讲授 10-3

海南大学董建华讲授 10- 3 Standard Cost Systems Manufacturing Service Not-for-Profit Record standard and actual costs in the accounting records Actual Costs Incurred

Standards Standard costs are budgeted costs to manufacture a single unit of product,or perform a single service To develop standards identify material and labor types,quantities,and prices overhead types and behavior 海南大学董建华讲授 10-4

海南大学董建华讲授 10- 4 Standards Standard costs are budgeted costs to ◼ manufacture a single unit of product, or ◼ perform a single service To develop standards identify ◼ material and labor types, quantities, and prices ◼ overhead types and behavior

Material Standards Types,quantity,quality of materials used Product specifications,observation,inquiry ▣Bill of Materials Balance cost,quality,and projected sales price Standard Material Quantity Unit Purchase Price Cost 海南大学董建华讲授 10-5

海南大学董建华讲授 10- 5 Material Standards Types, quantity, quality of materials used ◼ Product specifications, observation, inquiry ◼ Bill of Materials ◼ Balance cost, quality, and projected sales price Standard Material = Quantity * Unit Purchase Price Cost

Labor Standards Types,quantity,cost of labor used Production,setup,cleanup,and rework Time and motion studies,industrial engineering studies Operations Flow Document Include wages,taxes,and fringe benefits Standard Labor Hours Wage Rate Cost 海南大学董建华讲授 10-6

海南大学董建华讲授 10- 6 Labor Standards Types, quantity, cost of labor used ◼ Production, setup, cleanup, and rework ◼ Time and motion studies, industrial engineering studies ◼ Operations Flow Document ◼ Include wages, taxes, and fringe benefits Standard Labor = Hours * Wage Rate Cost

Overhead Standards Predetermined factory overhead application rates Standard Standard Direct Materials Cost Standard Direct Labor Card Manufacturing Overhead 海南大学董建华讲授 10-7

海南大学董建华讲授 10- 7 Overhead Standards Predetermined factory overhead application rates Standard Standard Direct Materials Cost Standard Direct Labor Card Manufacturing Overhead

A Case Study To illustrate,assume that Xonic,Inc.,wishes to use standard costs to measure performance in filling an order for 1,000 gallons of Weed-O,a liquid weed killer. Direct Materials Standard Cost per unit which should be incurred purchasing department's best estimate of the cost of raw materials include amount for related costs WEED-O receiving,storing,and handling 海南大学董建华讲授 10-8

海南大学董建华讲授 10- 8 A Case Study To illustrate, assume that Xonic, Inc., wishes to use standard costs to measure performance in filling an order for 1,000 gallons of Weed-O, a liquid weed killer. Direct Materials Standard Cost per unit which should be incurred ◼ purchasing department’s best estimate of the cost of raw materials ◼ include amount for related costs ◼ receiving, storing, and handling WEED-O

Setting Direct Materials Price Standard The materials price standard per pound of material for Xonic's weed killer is: WEED-O Item Price Purchase price,net of discounts $2.70 Freight .20 Receiving and handling 10 Standard direct materials price per pound S3.00 海南大学董建华讲授 ☐10-9

海南大学董建华讲授 10- 9 Item Price Purchase price, net of discounts $2.70 Freight .20 Receiving and handling .10 Setting Direct Materials Price Standard Standard direct materials price per pound $3.00 The materials price standard per pound of material for Xonic’s weed killer is: WEED-O

Direct Materials Standard Quantity of direct materials used per unit of finished goods Physical measure pounds,barrels,or board feet,etc. includes allowances of unavoidable waste and normal storage. 海南大学董建华讲授 10-10

海南大学董建华讲授 10- 10 Direct Materials Standard Quantity of direct materials used per unit of finished goods Physical measure ◼ pounds, barrels, or board feet, etc. ◼ includes allowances of unavoidable waste and normal storage