Relevance of Standard Costing & Variance Analysis Essay - 1

Relevance of Standard Costing & Variance Analysis - Essay Example From this paper it is clear that  the standard cost is a predetermined unit cost i.e. the price and standard amount of each resource to be utilized in manufacturing a product and providing a service. A variance is the difference of actual cost incurred and expected standard cost. The variance analysis involves breakup of total variance to explain how much variance is caused by difference in use of resources from the standard usage quantity and how much variance is caused by the difference in prices of resources from the standard costs. The standard costing can be advantageous only if the cost standards are carefully established and prudently used. The use of standards solely for placing blame can have negative impact on management and employees. The major advantages include better management planning, promotes economy by making the employees understand importance of cost reduction, setting selling price, management control, highlights variances in management by exception and simpli fy the inventories’ costs reducing clerical costs.As the study stresses the standard costing is suited to the control of variable and direct costs but not fixed and indirect costs, the usefulness of standard costing has been questioned because the in recent times the overhead costs have become the relevant factory costs whereas the importance of direct labour costs has diminished.  JIT is an inventory system which works towards keeping zero inventories.

Children With Cerebral Palsy and Genetic Disorder Assignment

Children With Cerebral Palsy and Genetic Disorder - Assignment Example The present research has identified that the work â€Å"Quality of life of parents of children with cerebral palsy† is a cross-sectional design with a control group. It is not experimental in the sense that cerebral palsy is inflicted on the subjects. Instead, a post-test study is apparent, where the post-results of the effects of having cerebral palsy are examined. The authors wanted to know the differences and similarities in the quality of life conditions between parents with children who have cerebral palsy and parents who have healthy children. The authors chose the right research design because they aimed to know how cerebral palsy affects the parents, instead of children with cerebral palsy per se. The author has rightly presented that through the comparative approach, they can determine these differences and similarities and make deductions from the data. Sample Size: 40 parents of children with cerebral palsy aged 6-17 years.   The control group was composed of 40 p arents of healthy children (27 mothers and 13 fathers). Sample characteristics:   They are parents of children with cerebral palsy aged 6-17 years. These children were treated at the Department of Pediatric Rehabilitation of the Medical University of Bialystok.   Their cerebral palsy conditions are as follows: spastic tetraplegia - 18 (45%), spastic hemiplegia (hemiplegia spastica) -15 (37.5%), spastic diplegia (diplegia spastica) -7 (17.5%).