Option 1 Discuss the usage and creation of standard costs by your operation. How are these costs developed? How can they be used in the creation of a

Option 1

Discuss the usage and creation of standard costs by your operation. How are these costs developed? How can they be used in the creation of a forecast? How can these be used in an individual or organizational measurement system?

– OR –

Option 2

Discuss a current business activity that you or your department does that could be improved by leveraging Variance Analysis. Discuss the perspective you could gain, and what a “favorable price” and a “favorable quantity” variance mean in this application.

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Homework  JWI 515: Managerial Economics Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains

Homework  JWI 515: Managerial Economics Academic Submissions and Evaluation © Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 515 –