Matching
Match each item with the correct statement below.
-A tool used to provide the production data needed to calculate the standard unit cost.
A)Quantity Standards
B)Ideal Standards
C)Price Standards
D)Standard Cost Sheet
E)Upper Control Limit
F)Currently Attainable Standards
G)Kaizen Standards

Question

Quizplus · Accepted Answer

A standard cost sheet provides the information needed to calculate the standard unit cost.

Answer: A
 Quantity standards specify how much of a particular input should be used to produce one unit of output.

Answer: C
 Price standards specify the amount that should be paid for each unit of input.

Answer: F
 Currently attainable standards reflect the production level that can be achieved with current technology, personnel, and material availability.

Answer: E
 The upper control limit is a statistical control point that represents the highest acceptable level of variation in a production process.

Answer: B
 Ideal standards represent the level of performance that should be achieved under perfect operating conditions.

Answer: G
 Kaizen standards are performance targets that are continuously adjusted and refined based on ongoing improvements in the production process.

Matching Match Each Item with the Correct Statement Below