Which of the Following Is an Advantages of Using Standard

question 158

Multiple Choice

Which of the following is an advantages of using standard costs and variances?

• A)Standard costs are benchmarks that managers use to judge actual costs.
• B)Maintaining updated standards is inexpensive.
• C)The timeliness that occurs when computing standards monthly.
• D)Price and efficiency variances motivate front-line employees more than operational performance measures.

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Definitions:

Hierarchy

Hierarchy is a system or organization in which people or groups are ranked one above the other according to status or authority.

Needs

Fundamental requirements that individuals must fulfill to achieve basic physiological and psychological well-being.

Affective States

Various psychological states of emotion that range from positive to negative and can fluctuate based on experiences and perceptions.

Physiological Changes

Physiological changes are alterations in the body's normal biological functions, which can occur due to various factors, including stress, exercise, or health conditions.