Lecture

Standard Cost Systems: Variance Analysis

In course

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Description

This lecture covers standard cost systems and variance analysis, focusing on responsibility accounting, budgeted cash receipts and disbursements, labor rate and efficiency variances, material price and quantity variances, and overhead spending and volume variances. The instructor explains the importance of standard costs in reducing production costs, improving cost control, and providing better information for decision-making.

Official source

https://mediaspace.epfl.ch/media/0_o7irlotc

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Ontological neighbourhood

Business

Accounting: Financial accounting

Economics

Macroeconomics: Markets

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