The Difference in Standard Price and Standard Cost of Direct

question 81

Multiple Choice

The difference in standard price and standard cost of direct material is that

• A)standard price is the amount to produce one unit of product; standard cost is the amount paid to obtain one unit of material from a vendor.
• B)standard price is the amount paid to obtain one unit of material from a vendor; standard cost is the amount to produce one unit of product.
• C)standard price is the amount added to work in process as material is put into production; standard cost is the amount to produce one unit of product.
• D)standard price is the amount to produce one unit of product; standard cost is the amount added to work in process as material is put into production.

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Definitions:

Psychological Distress

A state of emotional suffering characterized by symptoms such as depression, anxiety, and stress, often affecting an individual's day-to-day functioning.

Institutional Support

Assistance, resources, or backing provided by organizations or institutions, typically aimed at facilitating the achievement of specific goals or objectives.

Egalitarian

The principle or belief that all people are equal and deserve equal rights and opportunities.

Substance Abuse

The harmful or hazardous use of psychoactive substances, including alcohol and drugs, leading to addiction or other negative impacts.