Question

In: Accounting

In chapter 22, we discuss standards. What is a standard, how to develop a standard, why...

In chapter 22, we discuss standards. What is a standard, how to develop a standard, why do we use standards, etc.

Describe a non-manufacturing business that could benefit from the use of standards. Additionally, explain how standards would help that business control its operations.

Solutions

Expert Solution

Standard means..

Standard is the things,word or something fix in nature which is called a level of quality.

Standard is the meaningfull word which is is used to comparison of the things in quality,nature and its features.

How to develop Standard

Standard is provide solution to issue,solve the problems.

Standard is to improve your internal processes by working with us to develop your own standard.

Standard is to be develop through internal process verification and development with comparison to actual.

Standard develop through variance analysis which is comparison of actual with standard things.

why do we use standard

Standard we are use becuase of comparison or differentiate from actual things.

Standard is use becuase of one of fix in nature of things to be taken as benchmark.

Describe a non-manufacturing business that could benefit from the use of standards. Additionally, explain how standards would help that business control its operations.

A non-manufacturing business is the service providor business.

The standard is fixed for the service that is provided to the customers

This will help the efficient use of the sources, the quality of the task execution designed as per the standards would benefit the company with lot of profit.

Standard uses will give timeframe and knowledge process work and will be benificial to overall company.

A service business uses of standard for controlling the operations or activity

Control and controlling is one of the managerial functions like planning, organizing, staffing.

Staff can get more done of work in less time by following set processes and procedures i.e. standard, and you can spend less time overseeing the day-to-day running of the activity or operations.

All the business depends on the ability of an officers to control operations by applying their analyses and raw data to their practical knowledge.


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