Asked by Preet Sangha on Jul 18, 2024
Verified
Standard costs
A) may show past cost experience.
B) help establish expected future costs.
C) are the budgeted cost per unit in the present.
D) All of these answers are correct.
Standard Costs
Estimated or predetermined costs of manufacturing, selling, and administering a product or service.
Expected Future Costs
Projected expenses that a company anticipates incurring in the pursuit of its future activities.
- Comprehend the role of standard costs in facilitating management planning, control, and decision-making processes.
Verified Answer
BV
Bronwyn von NiessenJul 23, 2024
Final Answer :
D
Explanation :
Standard costs are predetermined costs and can be based on past cost experience, help establish expected future costs, and serve as the budgeted cost per unit in the present. Therefore, all of the given options are correct.
Learning Objectives
- Comprehend the role of standard costs in facilitating management planning, control, and decision-making processes.
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