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Asked by Evlyn Torgerson on Jun 09, 2024

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Because accountants have financial expertise, they are the only ones that are able to set standard costs for the production area.

Standard Costs

Predetermined costs for the manufacturing of products or performing services under normal conditions, used as benchmarks to measure actual performance.

Accountants

Professionals who manage and analyze financial records to ensure accuracy and compliance with laws and regulations.

Financial Expertise

The knowledge and skills related to managing money, investments, and financial analysis, often essential for making informed business decisions.

  • Determine the function of accountants and managers in establishing cost benchmarks.
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Doan Phi HoangJun 09, 2024
Final Answer :
False
Explanation :
While accountants may be involved in setting standard costs for production, it is not exclusive to their expertise. Engineers, production managers, and other professionals may also have input and knowledge regarding the most accurate and efficient standard costs.

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