Standard Costs Can Be Used for

question 12

Multiple Choice

Standard costs can be used for

• A) controlling costs and products.
• B) controlling budgets and products.
• C) control and products.
• D) control and product costing.

---

Definitions:

Wages Expense

The total cost incurred by a company to compensate its employees, including salaries, wages, and other forms of employee benefits.

Operating Revenues

The income earned by a company from its normal business activities, typically from the sale of goods and services to customers.

Cash Sales

Transactions where goods or services are paid for with cash at the time of the sale, rather than on credit.

Credit Sales

Sales made on credit, where the buyer purchases goods or services but payment is delayed according to terms agreed by both parties.