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:

Kohlberg

A theorist known for his work on the development of moral reasoning in individuals, categorizing this development into stages.

Preindustrial societies

Societies characterized by an economy based on agriculture, with limited technological development and a predominance of subsistence farming.

Kohlberg's dilemmas

Moral dilemmas used by Lawrence Kohlberg in his research to study moral reasoning and the development of moral judgment across different stages of human life.

Cross-cultural studies

Research aimed at comparing cultural practices, values, and psychological processes across different cultures to understand cultural influences on behavior and cognition.