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Are formal statements of expected product performance by the manufacturer?
Wiki User
∙ 11y ago
Warranties
Wiki User
∙ 11y ago
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What is the difference between a standard and a budget?
A budget usually refers to a department'sor a company's projected revenues, costs, or expenses. A standard usually refers to a projected amount per unit of product, per unit of input (such as direct materials, factory overhead), or per unit of output.For example, a manufacturer will have budgets for its manufacturing or factory overhead departments. Let's assume that the budgeted manufacturing overhead for the upcoming year is expected to be $1,000,000 in order to produce the expected 100,000 identical units of product. The standard cost of manufacturing overhead per unit of product is $10 ($1,000,000 divided by 100,000 units). When the products are not identical, the $1,000,000 of manufacturing overhead might be divided by the expected number of machine hours required to manufacture the units of product. Assuming it will take 50,000 machine hours, the standard cost of the manufacturing overhead will be $20 per machine hour ($1,000,000 divided by 50,000 machine hours).
What is the difference between budget and standard in accounting?
BudgetA budget usually refers to a department'sor a company's projected revenues, costs, or expenses.StandardA standard usually refers to a projected amount per unit of product, per unit of input (such as direct materials, factory overhead), or per unit of output.ExampleA manufacturer will have budgets for its manufacturing or factory overhead departments. Let's assume that the budgeted manufacturing overhead for the upcoming year is expected to be $1,000,000 in order to produce the expected 100,000 identical units of product. The standard cost of manufacturing overhead per unit of product is $10 ($1,000,000 divided by 100,000 units). When the products are not identical, the $1,000,000 of manufacturing overhead might be divided by the expected number of machine hours required to manufacture the units of product. Assuming it will take 50,000 machine hours, the standard cost of the manufacturing overhead will be $20 per machine hour ($1,000,000 divided by 50,000 machine hours).
How is auditing distinguishable from bookkeeping and accounting?
Think of it this way, bookkeeping and accounting are putting things together (the financial statements). Auditing, is ripping it apart. I want to look at the finished product (the financial statements) and work backward to see how you put them together and if you did it correctly.
What is pickup allowance?
A manufacturer discount offered to wholesalers who pick up their orders t their Distribution center rather than having their product delivered
What is the End product of financial accounting?
Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.
How do you evaluate manufacturer performance?
A manufacturer evaluates performance done by a worker on an assembly line by the number of parts or pieces they put together in a certain time period. A manufacturer can also evaluate how high qulity there product is by determining the percentage of rejects, or items that don't pass quality control.
Meaning of consumer satisfaction?
Consumer Satisfaction can be defined as a degree of person's satisfaction about a product, which fulfilled his expected requirements and exceeded his expectations regarding the product's performance.
As long as a manufacturer does not try to control the market for a product it is okay for the manufacturer to design market and sell a product.?
Yes. As long as a manufacturer does not try to control the market for a product it is okay for the manufacturer to design market and sell a product.
As long as a manufacturer does not try to control the market for a product it is okay for the manufacturer to design market and sell a product?
Yes. As long as a manufacturer does not try to control the market for a product it is okay for the manufacturer to design market and sell a product.
How might the benchmarking and quality circles inprove quality?
for eg: for a product required by a customer, the benchmarking will be done by the customer. it means the product is of good quality which the customer was expecting. Benchmarking means the product has relative performance which is expected.
What is difference between vendor and manufacturer?
Vendor -Supplier of the product Manufacturer- developer of the product
What is product performance?
Product performance is the measurement of how a product performs. Some products have a very high product performance while others do not perform so well. The majority of product performance is based on consumer feedback.
What are the pros and cons of a vizio TV?
In general, vizio TV reviews are good. Some complaints about the product are screen problems and a pixilated screen as well as pricing. Also when returning the product the consumer is expected the package and ship the product back to the manufacturer and pay costly fees.
Who is the one making a product?
The manufacturer.
WHAT IS The combination of product lines offered by a manufacturer called?
product mix
What is manufacture branding?
owned by the manufacturer and they are identified with the product
The quantity of product X supplied can be expected to rise with a fall in what?
The quantity of product X supplied can be expected to rise with a fall in:
