Explore BrainMass

Standard Costing Model In Workplace

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Have you ever worked in a company that utilized activity based costing, standard costing, a Just-In-Time operating environment, or any of the other costing concepts covered in our readings during this module? Describe your experience with any of these managerial philosophies and your opinion on their effectiveness.

© BrainMass Inc. brainmass.com October 25, 2018, 9:56 am ad1c9bdddf

Solution Preview

Step 1
In my workplace standard costing was used. This was the predetermined cost of performing or producing a good. These were used as target costs and were supposed to be developed from past costs. However, rumors said that the production manager reduced the past production costs by a percent and forced the standard costs on the workers. For example, the target cost of the body of a drill was set at $255. When we added all the costs that had occurred in the past the cost was $274. When we tried to manufacture the body the actual costs could go up to $280! No supervisor or team leader ...

Solution Summary

This posting gives you a step-by-step explanation of costing concept of which I have personal experience. The response also contains the sources used.

See Also This Related BrainMass Solution

(TQ) Model and Methodology

I need help with the following:

Assume that you are an expert on a selected TQ model from on of the TQ model/methods below, please defend the selected TQ model/method in which you identify a specific TQ model/method and present it to your organization's leadership so that they can incorporate it into the organization's strategic planning process.

Possible models include:

a. Continuous Quality Improvement (CQI)

b. International Organization for Standards (ISO 9000 and 14,000)

c. Value chain analysis

d. Six Sigma

e. Lean manufacturing, or service

f. Theory of constraints

g. Just In Time (JIT)

View Full Posting Details