How Are Costs Assigned in a Standard Cost System

question 136

Multiple Choice

How are costs assigned in a standard cost system?

• A) actual direct materials, actual direct labour, and actual manufacturing overhead
• B) actual direct materials, actual direct labour, and budgeted manufacturing overhead
• C) standard direct materials, standard direct labour, and standard manufacturing overhead
• D) budgeted direct materials, standard direct labour, and standard manufacturing overhead

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Definitions:

Deflection

The change in direction of a wave or object due to a change in its medium or the presence of an obstacle.

Earth Rotation

The spinning of the Earth around its own axis, which takes approximately 24 hours to complete and results in day and night.

Nitrogenase Enzyme

An enzyme complex responsible for the reduction of atmospheric nitrogen to ammonia, a critical step in the nitrogen fixation process.

Nitrogen Cycle

The biogeochemical cycle that describes the movement and transformation of nitrogen through the atmosphere, living organisms, and soil.