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.
Correct Answer:
Verified
Q51: It is possible that a company's financial
Q52: The labor time requirements for standards may
Q53: Standard costs may be used by
A) universities.
B)
Q54: The most rigorous of all standards is
Q55: A standard differs from a budget because
Q57: Ideal standards
A) are rigorous but attainable.
B) are
Q58: Which of the following statements is false?
A)
Q59: Which of the following is not considered
Q60: Standard costs
A) may show past cost experience.
B)
Q61: The direct materials quantity standard should
A) exclude
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