The Difference in Standard Price and Standard Cost of Direct

question 8

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:

Dextrose

A form of glucose used in medical settings as a source of energy and fluids.

Calories

A unit of energy used to quantify the amount of energy provided by food and drink, and energy used by bodily activities.

TPN Solution

Total Parenteral Nutrition, a medical solution given intravenously to provide nutritional support to patients who cannot eat or absorb enough nutrients through their gastrointestinal tract.

Trivializing

The act of making something seem less important or significant than it really is, often minimizing serious issues or reducing the perception of value.