Asked by Skylar Nicholson on Jul 15, 2024
Verified
Theoretical standard
A) Ideal standard
B) Normal standard
C) Budget performance report
D) Unfavorable cost variance
E) Favorable cost variance
Theoretical Standard
An ideal cost or benchmark that assumes perfect efficiency and effectiveness in operations, used for comparison and goal setting.
- Distinguish between multiple forms of criteria (optimal, customary, achievable in the current context).
Verified Answer
SW
Shanette Warren
Jul 16, 2024
Final Answer :
A
Explanation :
Ideal standards represent a theoretical standard under perfect operating conditions.
Learning Objectives
- Distinguish between multiple forms of criteria (optimal, customary, achievable in the current context).