Chapter 11 Discussion Questions-Standard Costs & Variances

Chapter 11 Discussion Questions-Standard Costs & Variances

Discussion Topic Options

Select one of the following topics to make your original substantive post. Please copy the topic into your Original Post. You need to make your original post before you can reply to your classmates 200WORDS minimum. You will need to post a minimum of 2 substantive replies to your classmates.

Topic A- Susan Crosson

Please watch and thoughtfully discuss one or more (if you pick a short one) of Susan Crosson’s videos from the following playlist. Your discussion should list what video you watched, include what specific concepts you learned from this video and should be at least two paragraphs long.

Standard costing: https://www.youtube.com/playlist?list=PLCB36E5D397E5AAF0

Topic B- Setting Standards for Costing

Perform an Internet search and find an article about Standard Costing and Variance Analysis and write a substantive post (2-3 paragraphs) Summarize and comment on what you learned (or didn’t learn) beyond the textbook. Let other students know whether this resource was helpful or not.

http://maaw.info/StandardCostingMain.htm

Topic C- Overhead Variances

Write a substantive post (2 – 3 paragraphs) that answers the following questions:

  1. What 4 variances comprise the under- or over- applied overhead?
  2. If factory overhead is over-applied for the period, would you expect the total of the overhead variances to be favorable or unfavorable?
  3. Why is the term overhead efficiency variance a misnomer?
  4. Under what circumstances would you expect the volume variance to be favorable? Under what circumstances would you expect it to be unfavorable?
  5. Does the volume variance measure deviations in spending for fixed overhead spending?

Topic D- Terminology using Standard Costing

Using the URL below write a substantive post (2-3 paragraphs) Summarize and explain the terminology used in Standard Costing. Comment on what you learned (or didn’t learn) beyond the textbook. Let other students know whether this resource was helpful or not.

http://www.accountingexplanation.com/standard_costing_and_variance_analysis.htm

Topic E- Limitations of Standard Costing

Using the URL below write a substantive post (2-3 paragraphs) Summarize and explain the limitations of Standard Costing. Comment on what you learned (or didn’t learn) beyond the textbook. Let other students know whether this resource was helpful or not.

http://accounting-simplified.com/management/variance-analysis/disadvantages-of-standard-costing-and-variance-analysis.htmlYou must start a thread before you can read and reply to other threads

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