Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor,and overhead Calculate and record material,labor,and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances 海南大学董建华讲授 10-2 海南大学董建华讲授 10- 2 Learning Objectives Explain why standard cost systems are used Describe how standards are set for material, labor, and overhead Calculate and record material, labor, and overhead variances Explain how variance analysis can be used for control and performance evaluation Reporting Variances