Establishing Cost Standards Homework Answers Is Now an Easy Deal

Get Quick and Accurate Online Homework Help from Qualified Tutors.

trustpilot ratings

4.2 out of 5

My Homework Help

4.7 out of 5

sitejabber ratings

4.8 out of 5

  • NHonest Pricing
  • NBetter Grades
  • NMoney-back Guarantee

Get Homework Help From ExpertsFREE QUOTE

Please enter the details of your homework.
Get a response in under 15 min
Rate this post

To comprehend a number of procedures that are to be considered while establishing cost standards homework answers for your homework consumes a lot of time and requires rigorous efforts from the student. Making efforts to understand a topic is a good thing, but it leaves one with absolutely no time for upcoming exam preparation.
This very issue led to the establishment of several homework help services that are now available on the web with an aim to help students of various universities with their homework.
What is the complexity associated?
Assigning standard costs to various products and services is one of the most complex and tedious tasks in business. To deal with the answers concerning the topic, what one needs is a systematic understanding of the concept.
Various homework help services provide you with such systematic study of the subject you’re dealing with by following a particular pattern in the answers they deliver to you. To give you a basic understanding of the concept, we are discussing here, in brief, the various subheads that encompass the procedure of assignment of cost standards.
Take the first step by understanding the meaning of cost standards
Understanding the meaning and definition of cost standards is the foremost step you take while studying the process of assignment of cost standards to a company’s manufactured goods and services. In the same way, you need to comprehend it while establishing cost standards homework answers.
Encapsulating the meaning of cost standards in a few words, it is an estimated future cost of a product as worked out by the management wing of the company through continuous mutual discussions and consideration of welfare of the company’s economy.
Aim of assigning standard costs is to ensure future profits
Being one of the functions of financial and accounting wing of the company, assigning standard costs to various products requires consideration of various aspects that are related to the past and present performance and demand of those products in the market.
After these considerations are taken into account, measures are adopted, and decisions are taken regarding the assignment of a standard cost to those products. This standard cost must work out in favor of the company’s financial benefits.
Estimation of standard costs is one of the tools of cost control
You must be aware that cost control is a process whereby the most appropriate and economical way of manufacturing a product is devised. This process involves various tools or techniques, one of which is estimation of standard costs by the management of the company. However, while establishing cost standards homework answers for your homework, one must not forget the crude difference between cost control and standard costs.
Cost control may involve various procedures and covers all aspects of business like planning, motivation, communication, etc., estimation of standard cost is one of those various procedures included in the strategic process of cost control.
This difference may be understood with the help of an example. If one wants to cook a dish for himself, he has to follow some steps like making a list of all the required ingredients, walking down to the market, buying all the required raw materials, walking back home and cooking the dish. The entire process from preparation of list to cooking here represents the process we call as cost control, whereas a step in the process, say preparing the list of required items represents assignment of standard cost.
Estimation of standard costs requires some basic abilities
 We have discussed pretty enough about the meaning and objectives of establishing standard costs. However, the basic requirements for the whole procedure must not be forgotten to be taken into account while establishing cost standards homework answers.
Some basic abilities and facilities that are necessary for a business firm to possess and avail include – ability to devise meaningful and worthy standards, a system that can calculate the actual costs as well as the standard costs at the same time and facilities to calculate the variances from time to time so that improvement measures can be adopted.
Work ability of the followed procedures is done by comparison
Whether the procedures followed to achieve the target of standard costs are on or off target is analyzed by making a comparison of the estimated costs of the product with their actual costs after the time specified for the achievement.
Variance is one term to be understood while establishing cost standards homework answers for your homework. The deviation of actual cost of the product from its standard cost is, in business terms, the called variance.
If the variance is positive, that is, the actual cost of product is greater than the estimated cost, it indicates the need for the company to change the present measures it is following. On the other hand, if the variance is negative or zero, that is, the actual cost is either less than or equal to the standard cost, it implies that the measures company has adhered to have worked out very well in favor of the company and should continue to be followed.
However, with changing time, the company must continue to devise new favorable measures to be adopted in future. Keeping the above-mentioned points in mind, working for your homework such as establishing cost standards homework answers becomes an easy task. In addition, if one aims to produce impeccable assignments devoid of errors, one can opt for several online homework help services, which deliver assignments written by highly experienced scholars.

You May Also Like

Benefits of Online Homework Help

subjects covered

70+ Subjects

Our team of professional academic writers are experts in their fields and are well-equipped to handle any complex subject. You can always count on one of our specialists to assist you.
short deadline

Short Deadlines

We understand the importance of meeting deadlines and we pride ourselves on being able to deliver tasks quickly. No matter how tight the deadline, we will complete your homework on time.
chat with expert

Chat with Expert

Stay in touch with your expert by utilizing our secure chatboard for all your queries and concerns. You can easily check progress and make sure your work is on the right track.
free revisions

Free Revisions

We strive to ensure complete customer satisfaction. We offer free revisions to make sure our clients are happy with the final product. Your satisfaction is our top priority.

Reviews from Customers

Rated 4.5 out of 5
4.5 out of 5 stars (based on 457 reviews)
Very good35%

Frequently Asked Questions


How do I submit my assignment?

Getting assignment help is very simple with us. Students can either send us the homework via email or they can upload it to our online form here. For a quicker response, You can also chat with us at WhatsApp and submit homework directly. You are sure to get a response from our side within 10 minutes. You can pay for your order using secure PayPal or major credit card gateways.


Who will do my homework?

All our tutor experts are highly qualified professionals – holding at least Master’s degree in their fields. Currently, our tutor pool is made of 400 subject-specific experts.

Each expert has been individually chosen after a series of rigorous screen tests, which involves credential checks, work history analysis, writing sample assessment, and one-on-one interviews.


How much will my homework cost?

Each assignment is quoted a unique price. It is based on (i) complexity of task, (ii) your deadline and (iii) tutor’s estimate of the time it will take them to complete your homework. There are no obligations, and you are free to discuss the price quote with the tutor.

We also accept partial payment to start working on your assignment help. You can pay the remaining amount when your task gets completed. No pressure of up-front payment. No hidden order costs. We do not have a monthly fees or minimum payments for services.


Can I pay someone to help me with my homework?

Yes, you can pay online tutors for homework help. There is nothing wrong with asking for help from trained and professional subject tutors to clarify doubts regarding any assignment or coursework.


What mode of payment is acceptable?

There are several ways to pay for homework help:

  • Credit/Debit Card: You can use your credit or debit card to make a payment online. We accept VISA/MASTERCARD/AMEX.
  • PayPal is a secure online payment service that allows you to pay for essay writing services using your account balance or linked bank account.


Can I chat with my tutor?

Using our secure chat board, you can now chat directly with your assigned tutor. The chats are encrypted both ways to secure your privacy. This makes your contact with the tutor directly & confidentially, so you can better explain any requirements or changes if needed or just need updates.

You can't contact the experts outside of chat board platform. Sharing any personal information, including but not limited to contact information, goes against our Terms and Conditions and therefore may result in permanently blocking you from the platform. We take any personal data very seriously and we do it for the safety of our users.

Know more about chat board here.


Can I get free online homework help?

Our homework services are not free because we provide customized, high-quality homework solutions. We have a prepaid system that ensures professional homework helpers are paid fairly for their work and time. We believe that the value of their expertise and the effort they put into crafting each assignment justifies the cost of our service.

Is My Homework Help Legit?

My Homework help is absolutely legit! We are the leading providers of college homework services since 2012. We connect you with experienced tutors for your assignment and make sure you get completed answers before deadline. Our guarantee is high-quality assignment solutions or your money-back. It’s that risk-free! Furthermore, everything about you is kept confidential.


Can I trust you?

My Homework Help is absolutely reliable. Students of the world's top universities use our services and 50% of our customers are repeat customers. Our ordering process is very simple & transparent. There are no hidden fees or subscription anything like that. You can also request a refund if you think that our expert wasn’t able to meet your requirements. Your prime satisfaction is our end goal!

Know more - How it works


What about privacy & confidentiality?

Using My Homework Help is absolutely safe. We care about your security, therefore we encrypt all personal data to make every user feel safe while using our services and we don’t share any personal information with any third parties without your permission. Your credit card information is not stored anywhere at My Homework Help, and use of PayPal relies on their secure payment networks. Your identity, payment and homework are in safe hands. You can always be certain of getting professional help and remaining anonymous, while using My Homework Help.