"> ACC 543 - Ace Your Studies
  • Due Date: 01/08/2017
  • Donna Allaire
  • Willing to pay: $5.00
  • Accounting Homework Help

ACC 543

Your company uses a standard cost system. As such, at the end of each period it must “clean up” the accounts by disposing of any standard cost variances that occurred for the period. You need to edu- cate members of the board about how the variances for fixed manufacturing overhead are disposed of at the end of the period. In your answer, pay particular attention to the following two financial- reporting issues: (a) the requirements of FASB ASC 330-10-30, and (b) how, under absorption costing, reported earnings can be “managed” by choice of the denominator volume used to establish the fixed overhead application rate