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Variance Analysis Chapter 18

Variance Analysis Chapter 18. ME 2027 Performance and Cost Analysis ME 2605 Cost Management and Control (for IMIM) Håkan Kullvén, KTH, 2007 Hakan.kullven@indek.kth.se. Figures 18.1 page 728. What a standard is. Figure 18.1 page 728. Standard costing system. Figure 18.3 page 737.

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Variance Analysis Chapter 18

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  1. Variance AnalysisChapter 18 ME 2027 Performance and Cost Analysis ME 2605 Cost Management and Control (for IMIM) Håkan Kullvén, KTH, 2007 Hakan.kullven@indek.kth.se

  2. Figures 18.1 page 728 What a standard is

  3. Figure 18.1 page 728 Standard costing system

  4. Figure 18.3 page 737 Figure 18.2 page 735 Purposes • Provide a prediction of future costs • Provide a challenging target • Assist in setting budgets, and in evaluating performance • For Management By Exception • For tracing costs to products for inventory valuation

  5. Next, we… will look at one of the areas to which I have referred to many times earlier in the course: divisional financial performance, with measures such as Return On Investments, ROI Chapter 20

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