The direct materials price standard is a carefully derived estimate or projected amount of what a particular type of direct material will cost when purchased during the next accounting period.

Name: The direct materials price standard is a carefully derived estimate or projected amount of what a particular type of direct material will cost when purchased during the next accounting period.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The statement accurately describes the definition of direct materials price standard.

The Direct Materials Price Standard Is a Carefully Derived Estimate