All of the Following Are Advantages of Using Standard Costs

question 82

Multiple Choice

All of the following are advantages of using standard costs and variances except

• A)standard costs have benchmarks managers use to judge actual costs.
• B)standard costs and benchmarks are useful tools that mangers use as a basis in the master budget.
• C)the timeliness that occurs when variances are computed once each month.
• D)standard costing systems simplify the bookkeeping process.

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Definitions:

Time Management Skills

The abilities involved in allocating one's time efficiently to accomplish tasks and meet goals.

Situational Stress

Stress experienced in response to a specific situation, often temporary and related to external circumstances.

Maturational Stress

Stress experienced as a result of the normal developmental processes across a person's lifespan.

Dormitory Floor

A level or story in a dormitory building that houses living quarters or rooms for students or residents.