A standard cost accounting system can be used for
A) direct materials.
B) overhead.
C) direct labor.
D) all of these.

Question

Quizplus · Accepted Answer

A standard cost accounting system can be used for all three elements of cost accounting: direct materials, direct labor, and overhead. It involves setting standard costs for each element and then comparing the actual costs incurred to the standard costs to identify variances and potential opportunities for improvement in operations.

A Standard Cost Accounting System Can Be Used for