Set Forth the Elements for a Finding of Substantial Performance

question 38

Essay

Set forth the elements for a finding of substantial performance and the effect of a finding of substantial performance on damages.

Determine how quantity and price standards are used to control material and labor costs.

Evaluate when and why variances can be favorable or unfavorable in manufacturing overhead.

Identify responsibilities for different variances and their implications on managerial accountability.

Explain the significance of standard cost recording in inventory management.