What provides both the production data needed to calculate the standard unit cost and the underlying details for the standard cost per unit?
A) the balance sheet
B) the standard cost sheet
C) the standard production budget
D) the standard work-in-process account

Question

Quizplus · Accepted Answer

The standard cost sheet provides both the production data and the underlying details for the standard cost per unit. It includes information such as direct materials, direct labor, and manufacturing overhead costs required to produce a unit of product. The balance sheet provides information on assets, liabilities, and equity, but does not provide details on production costs. The standard production budget provides information on the expected quantities of products to be produced, but does not provide details on production costs per unit. The standard work-in-process account tracks the value of partially completed products, but does not provide information on production costs per unit.

What Provides Both the Production Data Needed to Calculate the Standard