Standard Costs Are Used in Companies for a Variety of Reasons

question 8

Multiple Choice

Standard costs are used in companies for a variety of reasons. Which of the following is not one of the benefits for using standard costs?

• A) Used to indicate where changes in technology and machinery need to be made.
• B) Used to identify inventory
• C) Used to plan direct materials, direct labor, and factory factory overhead.
• D) Used to control costs.

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Definitions:

Input Module

A component of a modular PLC or control system that receives signals from input devices, such as sensors, and converts them into a form that the processor can use.

Output Module

A component in a control system that facilitates the transfer of digital or analog signals from the controller to actuating devices.

Open Switch

A switch that is in a default state of breaking the circuit, preventing the flow of electrical current until it is closed.