The standard costing method uses estimated costs to find product unit cost.

Name: The standard costing method uses estimated costs to find product unit cost.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Standard costing method uses predetermined or estimated costs to determine the expected cost of a product or service, including direct materials, direct labor, and overheads. Therefore, it is true that the standard costing method uses estimated costs to calculate the product unit cost.

The Standard Costing Method Uses Estimated Costs to Find Product