Which of the following statements about standard costs is FALSE?
A)Properly set standards should promote efficiency.
B)Standard costs facilitate management planning.
C)Standards should not be used in "management by exception."
D)Standard costs can simplify the costing of inventories.

Question

Quizplus · Accepted Answer

Standards should be used in "management by exception" to identify and investigate variances from expected performance. This helps managers identify areas for improvement and take corrective action.

Which of the Following Statements About Standard Costs Is FALSE