Standard Unit Costs Generally Do Not Include Which of the Following

question 82

Multiple Choice

Standard unit costs generally do not include which of the following?

• A) Direct materials costs
• B) Indirect materials costs
• C) President's salary
• D) Depreciation on machinery

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Definitions:

Elements

Fundamental components or constituents of something, often referred to in the context of abstract concepts, compounds, or a set of parts.

Qualitative Characteristics

These are the attributes that make the information provided in financial statements useful to users.

Understandability

A characteristic of financial information that makes it comprehensible to those with a reasonable knowledge of business and economic activities.

Decision Usefulness

A principle in accounting that information should help users make decisions regarding their investments, credit, and similar considerations.