In the standard cost formula Y = a + bX, what does the "Y" represent?

A) total cost
B) total fixed cost
C) total variable cost
D) variable cost per unit

Standard Cost Formula

A predetermined cost of manufacturing a single unit or a number of product units during a specific period under normal conditions, used for budgeting and cost control.

Total Cost

The aggregate amount of all costs involved in producing a product or delivering a service, including direct materials, labor, and overhead expenses.