All of the Following Are Features of a Standard Cost

question 62

Multiple Choice

All of the following are features of a standard cost system except:

• A)Standards change as conditions change.
• B)Variances may be determined more often than monthly to allow for more timely action.
• C)Standards are based on estimates.
• D)The company determines the actual cost of manufacturing a unit.

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Definitions:

Logical Connections

Relationships between ideas or concepts that follow principles of logic, enabling coherent reasoning and understanding.

Vocabulary

The collection of words that a person knows and utilizes in a specific language.

Imagination

The faculty or action of forming new ideas, images, or concepts of external objects not present to the senses.

Guided Participation

A teaching and learning approach where a knowledgeable individual helps a learner engage in meaningful activities.