ACC 349 Week 4 Discussion Questions

In this document you will find overview of the ACC 349 Week 4 Discussion Questions

Discuss Question 1

What are some of the advantages and disadvantages of standard costs? How do managers determine what the standard cost should be? Describe the effect of inaccurate standard costs on financial reporting.

Discuss Question 2

When should variances be investigated? Who should be responsible for correcting a negative variance? Why? What are some factors that can lead to variances? How can variances be corrected?

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