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State Direct material cost standard
The determination of direct material cost standard would involve:
a) Determination of quantity standards and
b) Determination of price standards
For determination material quantity standards for each material going as an input in the product, it is necessary to develop a product design and material specification as an input in a scientific manner on the basis of experiments/test runs. These specifications must be adhered to except in special circumstances when a revision is to be effected. If any should also be seceded on the basis of past experience or scientific analysis.
RELEVANT COSTS FOR NON-ROUTINE DECISIONS A relevant cost is a cost that is appropriate to a specific management decision. To be relevant, a cost should be: 1) Future cost
Direct materials,4yard at$3.50per yard...$14.00 Direct labor,1.5direct labor hours at $12.00 per direct labor hour....$18 Variableoverhead,1.5 direct labour hours at $2.00 per dire
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useroffinancialstatement
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