Standard Costs Are Used to Measure

question 42

Multiple Choice

Standard costs are used to measure:

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

Apply activity-based costing to allocate indirect costs across different products or services.

Calculate and compare factory overhead allocated per unit under different costing methods.

Understand the industries and products suitable for process costing versus job order costing.

Grasp the concept of conversion costs and their components in process costing.