Standard Costs Are Used in the Calculation Of

question 5

Multiple Choice

Standard costs are used in the calculation of:

• A) Price and quantity variances.
• B) Price variances only.
• C) Quantity variances only.
• D) Price, quantity, and sales variances.
• E) Quantity and sales variances.

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Definitions:

Gantt Chart

A visual tool used for project management, showing activities or tasks plotted against time, often used to monitor progress.

Pert Chart

A project management tool that outlines the tasks involved in a project, their sequence, and the time required for each, facilitating the identification of the critical path for project completion.

Market Development

The process of expanding into new markets or segments to increase the reach and sales potential of a company's products or services.

Product Development

The process of creating or improving a product or service, from initial concept through market release and beyond.