Asked by Meredith Murphy on May 06, 2024
Verified
A quantity standard indicates how much of an input should be used to make a unit of product or provide a unit of service.
Quantity Standard
A preset benchmark that specifies the expected amount or number of units to be used or produced under normal conditions.
- Determine how quantity and price standards are used to control material and labor costs.
Verified Answer
AP
Aubrey PierceMay 11, 2024
Final Answer :
True
Explanation :
A quantity standard specifies the amount of input required to make a unit of product or provide a unit of service. It helps in controlling costs and ensuring quality consistency.
Learning Objectives
- Determine how quantity and price standards are used to control material and labor costs.
Related questions
An Unfavorable Materials Quantity Variance Indicates That ...
The Standard Labor Rate Per Hour Should Not Include Any ...
Suver Corporation Has a Standard Costing System ...
The Standard Price Per Unit for Direct Materials Should Reflect ...
The Materials Price Variance Is Computed Based on the Amount ...