Standard costs
A)may show past cost experience.
B)help establish expected future costs.
C)are the budgeted costs per unit in the present.
D)all of these.

Question

Quizplus · Accepted Answer

Standard costs may show past cost experience, as they are based on historical cost data. They also help establish expected future costs as they are used to prepare budgets and set performance targets for future periods. Standard costs are the budgeted costs per unit in the present, as they represent the expected cost of producing a product or service under normal conditions. Therefore, all three options are correct.

Standard Costs