What Is a Standard Cost

question 94

Multiple Choice

What is a standard cost?

• A)The difference between an attainable standard and an ideal standard
• B)The budgeted cost of the total number of budgeted units
• C)The budgeted cost of a single unit
• D)None of these answer choices are correct.

---

Definitions:

Moral Values

Principles or standards of behavior that are considered important by a society or group in discerning right from wrong and guiding ethical decisions and actions.

Restitution

The act of restoring something lost or stolen to its proper owner or compensating for loss, damage, or injury.

Retribution

A form of punishment intended as a morally justified response to wrongdoing, emphasizing the idea of "an eye for an eye."

Transgression

An act that goes against a law, rule, or code of conduct; a violation or infringement.